March 21, 2018 / 4:31 PM / 2 years ago

Croatia's Agrokor says agrees with top creditor Sberbank on acknowledging claims

ZAGREB, March 21 (Reuters) - Indebted Croatian food group Agrokor and its largest single creditor Russia’s Sberbank have reached agreement on a withdrawal of lawsuits and an acknowledgment of Sberbank’s claims, Agrokor’s crisis manager said on Wednesday.

Sberbank’s claim amounts to 1.1 billion euros ($1.35 billion), but it has been disputed by Agrokor as Sberbank previously filed lawsuits outside Croatia, notably in other Balkan countries, targeting Agrokor’s property to try to secure repayment..

“We have agreed today to acknowledge the claims, while Sberbank will withdraw the lawsuits filed against Agrokor within an agreed time frame,” Agrokor crisis manager Fabris Perusko told reporters. (Reporting by Maja Zuvela Editing by Mark Heinrich)

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