April 25, 2017 / 3:18 PM / 2 years ago

Sberbank considers selling 1.1 bln euros in loans granted to Agrokor

MOSCOW/ZAGREB, April 25 (Reuters) - Russia’s largest lender Sberbank is considering selling 1.1 billion euros ($1.20 billion) in loans it granted to indebted Croatian food and retail group Agrokor, Sberbank’s First Deputy Chairman Maxim Poletayev said.

“We are also considering a possibility of selling Agrokor’s debt and are in talks with buyers on the international markets,” Poletayev said.

Agrokor, Croatia’s biggest private firm, piled up debts worth some 45 billion kuna ($6.42 billion), or six times its equity, during a rapid expansion in the region, according to the latest available official data from last September.

Poletayev also said Sberbank, one of Agrokor’s top lenders, was ready to go to court to seek a suitable solution in restructuring the company’s debt. ($1 = 6.8524 kuna) ($1 = 0.9152 euros) (Reporting by Kira Zavyalova in Moscow and Igor Ilic in Zagreb; writing by Andrey Ostroukh; editing by Susan Thomas)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below