Transfer to Fortenova close as loan deal signed to restructure Mercator’s debt

Zagreb – The Croatian group Fortenova and Slovenian retailer Mercator have signed a contract under which the latter will get a EUR 385 million loan to restructure its debt to creditor banks, in a move that further enables the transfer of the Slovenian retailer from the bankrupt former owner Agrokor to Fortenova.

Owner of Croatia's Indebted Agrokor 'Had Financial Control'

A former executive from the ailing Croatian conglomerate Agrokor, Mislav Galic, was questioned at the state attorney's office in Zagreb on Tuesday and presented a document which allegedly shows how all the major financial decisions were made by company's owner and founder Ivica Todoric.

Emergency Deal Announced to Keep Croatia's Agrokor Solvent

Austria's Erste Bank on Friday announced that Croatia's biggest private company Agrokor - currently embroiled in a deep financial crisis - and its creditors had reached a deal on a "standstill agreement" whereby the company will remain financially liquid while its debts are placed on "standby".