“Everyone knows that Agrokor is currently not in a good situation, so those who lend money want additional security. They have sought the assets of the best companies. Agrokor is a complex company with about fifty companies it managed, its market capitalization and annual turnover was over 7 billion kuna in 2016, excluding Mercator. Since it is managed as a concern, bankers have requested that the most valuable assets be pledged,” said Drago Munjiza for Croatian Television, former CEO of Konzum and director of the consulting firm Jakov Viktor, who expects that the business and other interested public will learn details about the business review of the concern conducted by PricewaterhouseCoopers by mid-November.
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“I expect that there will not be conditions for bankruptcy, assets and claims will be equalized, I believe. The question is how the assets will be valued, how quickly the sale will be rushed. Speculators can be avoided with the help of the Government. The company is extremely valuable and quality Croatian partners or foreign partners who are in this business must be found. Speculators would resell it. I think that those to whom Agrokor owes will have to reduce their claims by 70 percent, but these are speculations at this moment. How Agrokor will earn for its former debts remains to be seen,” said Munjiza, adding that people in the concern are still losing jobs, but the situation has stabilized.
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“Konzum is no longer the largest and best chain, but sales continue,” concludes Munjiza.
