Agrokor plans acquisition in Russia

Spasibo, this is a perfect deal for Agrokor - these are the words Agrokor's owner Ivica Todoric used yesterday in Moscow to comment on an agreement he signed with Herman Gref, the chairman of the Executive Board of Russia's Sberbank.

On one hand, the agreement is signed for a favorable seven-year loan of EUR 600 million, but both sides have plans for a much broader and more serious cooperation in the future.

Two years after entering the Croatian market, the largest bank in Russia became an important partner of the Agrokor group and now has serious plans for Croatia's corporate sector which Gref said has very good prospects and potential.

Gref also announced that the Bank would help Agrokor in its performance in the Russian market.

One of the plans is to increase the number of Russian tourists in Croatia. Todoric yesterday also announced they were planning a serious acquisition in the Russian market, but he declined to reveal the name of the target company. Five years ago, Agrokor tried to take over Lenta market chain, but it gave up due to approaching financial and economic crisis, among other things.