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Agrokor To Be Taken Over By Creditors Under Proposed Debt Settlement Plan

Published on May 28 2018 10:19 AM in Retail tagged: Featured Post / Croatia / Agrokor / Paywall / Aisle Dutch TopCo

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.

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