Uncertain Destiny of Sarajevo Kiseljak?

October 18, 2017 12:15 PM

The Municipal Court in Kiseljak made a decision with which Sberbank was allowed to take over the shares of Sarajevo kiseljak, which are owned by Croatian Agrokor, or more precisely Jamnica.

According to information from Jamnica, the Municipal Court of Kiseljak issued two enforcement decisions based on credible bills on October 9, and in the executive proceedings of the Sberbank in Zagreb and Sberbank from Ljubljana against Jamnica. The value of each case is 67.4 million BAM.

Halil Cengic from the association Dividenda explained that Jamnica, which is owned by Agrokor and Ivica Todoric, had more than 99 % of shares of Sarajevo Kiseljak.

“Jamnica pawned these shares as a collateral or a guarantee for Todoric’s loans, which was negative for Sarajevo kiseljak. Since the decision of the Municipal Court in Kiseljak was made, Sarajevo kiseljak will be practically owned by Sberbank,” said Cengic.

In September, from Agrokor was noted that Ljubljana and Zagreb Sberbank started enforcement proceedings over the shares of Jamnica in Sarajevo kiseljak, and that the same banks initiated enforcement proceedings in Sarajevo and Travnik against Agrokor over the shares in Konzum Sarajevo, the company “Ambalazni servis” and “Boreas Kresevo”.

Halil Cengic explained that in case that Sarajevski kiseljak is excluded from Agrokor , which is certain, it probably will not have the possibility of placement in their stores.

“The fact that it will not have a placement is negative: small shareholders have around 1 %, and they will still be co-owners. Sberbank will most likely sell that part, and I believe that the Herzegovinian tycoons will buy it,” concluded Cengic.

(Source: I. C./Klix.ba)

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