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UPDATE 1-Russia's Sberbank doing everything possible to support Agrokor - CEO
March 21, 2017 / 12:53 PM / 6 months ago

UPDATE 1-Russia's Sberbank doing everything possible to support Agrokor - CEO

(Adds quotes, details)

MOSCOW/ZAGREB, March 21 (Reuters) - Russia’s biggest bank Sberbank is doing everything possible to support troubled Croatian retailer Agrokor, to which it is a major lender, Sberbank’s Chief Executive German Gref said on Tuesday.

Gref added to reporters in Moscow that Sberbank did not want to manage a retailer in Eastern Europe.

Agrokor, the biggest Croatian private company and also the biggest food producer and retailer in the Balkans, has faced pressure from investors and the Zagreb government to clear up its debts.

“We’re in close contact with the owners and management of the company, we continue to support them. We will do everything so that the company remains standing and solves its temporary problems ... There is a plan to get out of this situation which has been agreed with us,” Gref said, without giving details.

Over the weekend, Agrokor said it was preparing a plan to stabilise business which should be presented soon.

Croatian weekly Nacional reported on Tuesday that Agrokor’s owner had also met over the weekend representatives of the Chinese bank ICBC for talks on possible investment. Agrokor was not available for immediate comment. (Reporting by Kira Zavyalova and Igor Ilic in Zagreb; Writing by Alexander Winning; Editing by Mark Potter)

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