Agrokor to take over Projektgradnja from Slavonski Brod

Agrokor is going to take over the construction company Projektgradnja from Slavonski Brod in a pre-bankruptcy deal. This company built farms for Agrokor in Baranja and Srem and took out HRK 150 million (EUR 19.9 million) loans from the Croatian company.

The largest Slovenian construction company in Croatia, which was hired by Agrokor to build a range of facilities, mainly farms and wineries, got into problems after a drastic fall in revenues from over HRK 400 million (EUR 53.2 million) in 2011 to last year's HRK 111 million, T Portal reports.

With its outstanding debts amounting to approximately HRK 0.5 billion, the company started looking for a pre-bankruptcy deal.

According to the draft of the pre-bankruptcy deal published on the website of the Zagreb Stock Exchange, Agrokor's three companies - Konzum, Belje, and Vupik, would convert their claims to ownership stakes in Projektgradnja.