Sberbank has no plans to sell its shares in Agrokor in the near future, the bank’s CEO, Herman Gref, said on Friday, reported Russian business news portals.
Zagreb Court has recognised all claim filings submitted by Sberbank as valid and Sberbank will be given about 40 percent of shares in Agrokor and 18 percent in Mercator, Gref said.
The Russian bank is the largest single creditor of Agrokor, with a €1.1 billion claim.
He added that if Sberbank were to merge the debt-for-equity share in Agrokor with shares in Mercator, the bank would get more than 40 percent shares in Agrokor, which they do not want.
“We will bring order to the company and sell under conditions more favourable for us,” Gref said.
It makes sense to get shares in Agrokor under current conditions, without swapping shares in the Slovenian retail company Mercator, CEO of Sberbank said.
He announced that an agreement on settling affairs in Agrokor could be signed sometime around June 28.