Crisis manager in the administration procedure in the indebted food and retail group Agrokor Fabris Perusko commented on Thursday the agreement on creditors' settlements which was reached late Wednesday night.

“In the work ahead of us we must turn agreements into solutions which can be legally implemented. The crisis management and advisors are now working on the final version of the settlement agreement, so that we could give it to the temporary creditors’ council for their consideration,” Perusko said.

We can say with certainty that we have the required support of two thirds of creditors. I can figuratively say, the agreement train has left the station,” he added.

As far as details of future ownership, returns and other details of the agreement with the suppliers and Sberbank, Perusko said the border debt (created prior to April 10 and due to mature after that date) would be paid to the suppliers according to previous agreements, and solution was found for those suppliers with promissory notes.

“Sberbank will not enter the roll-up, but will be granted certain returns in the future depending on the operative profit of the new Agrokor. Sberbank was also granted the possibility to swap its shares in Mercator for a stake in the new Agrokor,” he said.

Agram, Alka, and Adris companies are still contesting the agreement, Perusko said, adding they were “bringing into question the settlement process.”

“Today Dubravko Grgic (co-owner of some companies in Agram Group) said in the name of Agram he was prepared to agree to the deal, he showed willingness. We are also negotiating with Alco. The question of Adris still remains open,” Perusko said.

The deal is yet to be signed, he added, but Mr Grgic’s willingness is a step in that direction.

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