ZAGREB, March 21, 2018 – Croatia’s debt-laden retail and food conglomerate Agrokor and its chief creditor Sberbank have reached an agreement enabling Sberbank to be included in settlement negotiations, which entails that Agrokor’s emergency administration will recognise Sberbank’s claims while, on the other hand, the Russian bank will withdraw its suits against the conglomerate, Agrokor’s emergency administrator Fabris Peruško and Sberbank representative Sergei Volk said on Wednesday.
Addressing the press, Volk said that Sberbank and Agrokor had agreed to certain steps in resolving problems and that the bank is returning to the negotiation table in order to reach a settlement.
Fabris explained that the agreement means that the emergency administration has recognised Sberbank’s claims while, on the other hand, Sberbank will withdraw its lawsuits.
As far as Agrokor is concerned, this agreement with Sberbank means that we can reach a settlement that will have broad support from creditors, Fabris said, expressing his satisfaction with the agreement.
He added that talks in Split with members of the Interim Creditors’ Council were completed today and that he was convinced that a draft settlement would be ready by April 10.
