Value of Agrokor's companies three times lower than debts – Frikom worth EUR 164.7 million, Dijamant 87 million

The value of the companies within the Agrokor concern system is three times lower than the debts, as around 140 companies have been evaluated at around HRK 18.5 billion (EUR 2.5 billion), whereas the debt amounts to HRK 57 billion (EUR 7.7 billion), Tanjug reports.

The extraordinary management of Agrokor encompassed over 140 companies with its final evaluation of all the companies within the concern, and the value of the two Serbian companies owned by Agrokor, Frikom and Dijamant, has been estimated at EUR 164.7 million and EUR 87 million, the Croatian portal 24 Casa reports.

The Croatian company Jamnica has been found to be the most valuable, at EUR 494 million. It is followed by Ledo, with EUR 281 million, Belje, with EUR 276 million, whereas Konzum is only fourth, with EUR 209 million.

As an umbrella company, Agrokor d.d. has been evaluated at zero kunas, whereas Mercator, evaluated at EUR 878 million, is the most valuable company abroad.

It total, all the companies in Croatia and outside it have been evaluated at HRK 26 billion (EUR 3.47 billion).

To the creditors, who are negotiating a settlement in cooperation with the extraordinary management, the value of around HRK 18.5 billion (EUR 2.5 billion) will be available, as the debt of the companies abroad and not under the extraordinary management should be subtracted from the amount, as it does not fall under lex Agrokor, nor is it part of the agreement. This debt amounts to around a billion euros.

Agrokor owes a total of HRK 57 billion, which is three times more than the estimated value of the companies, which means that a large part of the debt will need to be written off and that the creditors will become new owners of Agrokor.

Russian banks Sberbank and VTB should be the biggest owners of Agrokor with a stake of around 45%, Tanjug reports.

Russian lifeline

Ambassador of Russia to Croatia Anvar Azimov said that Sberbank was ready to play a positive and constructive role in Agrokor.

He pointed out that the bank had the resources and the potential for it and invited internal and external forces not to set obstacles.

– Sberbank is ready to play a very positive, constructive and stabilizing role. We invite them not to set obstacles – Azimov said, as reported by B92.

Fortenova grupa d.d.

Frikom d.o.o. Beograd

Dijamant d.o.o. Zrenjanin

Mg Mivela d.o.o. Beograd

JAMNICA d.d. Zagreb

LEDO d.d. Zagreb

BELJE d.d. Darda

Konzum Zagreb

Poslovni sistem Mercator d.d. Ljubljana

Mercator-S d.o.o Beograd

SBERBANK Rusija

VTB Capital Rusija

Sberbank

Agrokor creditors

Agrokor operations

lex Agrokor

extraordinary management at Agrokor

value of Agrokor companies

Agrokor debt

Embassy of Russia in Croatia