Agrokor To Be Taken Over By Creditors Under Proposed Debt Settlement Plan
Indebted Croatian food group Agrokor will be taken over by a new Dutch-based company, owned by creditors, under a proposed debt settlement plan.
Agrokor, the largest company in the Balkans with 60,000 staff, was put under state-run administration in April 2017, crippled by debts built up during an ambitious expansion drive.
The draft debt settlement plan, drawn up by Agrokor's crisis management team, proposed that a company to be called Aisle Dutch TopCo would offer a debt-to-equity swap or convertible bonds to creditors.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!