Sarovic: ‘Agrokor’ owes at least 250 million BAM to BH Suppliers

April 11, 2017 12:15 PM

sarovic-696x456Chairman of the Council of Ministers of BiH Denis Zvizdic and Ministers of Finance and Foreign Trade and Economic Relations Vjekoslav Bevanda and Mirko Sarovic should talk with representatives of daughter companies ‘of Agrokor’ today about the financial problems of this Croatian group and the possible consequences for BiH.

This was confirmed by Sarovic in East Sarajevo, and the meeting should be attended by Ambassador of the Republic of Croatia in BiH Ivan Del Vecchio, Director of ‘Konzum’ for BiH Tomislav Bagic as well as directors of four daughters companies of ‘Agrokor’.

“This is the beginning of interests of state structures for the state of companies. It is necessary to consider the information about debts to BH suppliers. The companies within the ‘Agrokor’ are required to prepare the information on the situation in ‘Konzum’ and other companies and the state of the labor force and their future plans,” noted Sarovic.

The Minister said that there are certain estimates that debts of ‘Agrokor’ to BH suppliers amount to at least 250 million BAM, but there is a possibility that the debts are even higher which is why this meeting is the first one in a series, especially due to the fact that possible ‘collapse’ of ‘Agrokor’ or companies in the Group would have a negative impact on the overall balance in BiH and state of employees, and it would also influence on hundreds of suppliers from BiH.

“The next stage is meeting with suppliers. The interest of BiH is that the retail chain and other companies within ‘Agrokor’ that are operating in BiH continue to operate normally, which is the primary goal of these and other meetings that will follow later on. This is the interest of employees and the business world in BiH,” stated Sarovic.

From the Government of FBiH was earlier announced that they will forward the initiative to the Council of Ministers of BiH on taking measures due to financial problems of ‘Agrokor’ and the possible consequences on public revenues of BiH, local suppliers and employees in ‘Konzum’ in BiH.

From the Cabinet of Prime Minister of FBiH Fadil Novalic was confirmed that the Government of the FBiH in Sarajevo will have a meeting in regard to the current situation in ‘Agrokor’ and possible consequences for BiH.

Due to the large debts of ‘Agrokor’ to its suppliers, the bankers who are the largest financiers and creditors of ‘Agrokor’ appointed a new management headed by Antonio Alvarez III, who will try to restructure the entire company.

(Source: FENA)

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