RAMLJAK: Agrokor will not exist in a year

(Ante Ramljak) Agrokor will cease to exist in a year at the most, said the extraordinary trustee for Agrokor, Ante Ramljak, in his interview for Nova TV, as reported by Indikator.

– We are now defining the group in four mother units: retail, operating companies in food production, agriculture and non core. Non core activities will most probably be sold and the proceeds will go into repaying a part of the debt – Ramljak said and added that the group and the Agrokor holding would not exist in a year.

Ramljak concluded that Konzum, Mercator, Jamnica, Ledo and other factories making a profit will continue existing.

Commenting on the new loans Agrokor needs in the political situation in which the Croatian government doesn't have a majority in the parliament, Ramljak said that everyone would want to credit a factory for which the government provided guarantees.

– It's the same situation as with state debts, everything is seen through the interests, the political risk is reflected on the height of the interests – Ramljak said.

In case the financing fails, Ramljak announces Plan B, the details of which he didn't wish to discuss.

The Croatian Agrokor reported that it had had EUR 5.3 billion of debt in late March, according to non-audited financial data, whereas the amount doesn't include the Mercator Group and related entities.

Fortenova grupa d.d.

Vlada Republike Hrvatske

Ante Ramljak

Konzum

Mercator

Jamnica

Ledo

Government of Croatia