“Croatia’s parliament on Friday confirmed Darko Horvat as the new economy minister after his predecessor quit amid criticism of her handling of the crisis at food giant Agrokor, the country’s biggest private firm.

Horvat was entrepreneurship minister in a former government led by the conservative HDZ party which fell apart in 2016.

In total 77 out of 151 deputies, voted for Horvat to take over the economy ministry. Parliament also confirmed Agriculture Minister Tomislav Tolusic to take over as deputy prime minister.” (US News and World Report)

“The largest Croatian political party, the Croatian Democratic Union (HDZ), adopted a new statute here on Saturday, as its leader stressed reform and the importance of the party.

‘Today’s convention is important because of the adoption of a new and modern party statute, and because of the confirmation that the HDZ and the Government will work hard on structural reforms, economic growth, employment growth and wage growth, always defending Croatian national interests,’ Croatian Prime Minister and HDZ President Andrej Plenkovic said at a convention of 5,000 party members and supporters from all over Croatia.” (Xinhua)

“Indebted Croatian food group Agrokor will be taken over by a new Dutch-based company, owned by creditors, under a proposed debt settlement plan announced on Friday.

Agrokor, the largest company in the Balkans with 60,000 staff, was put under state-run administration in April 2017, crippled by debts built up during an ambitious expansion drive.

The draft debt settlement plan, drawn up by Agrokor’s crisis management team, proposed that a company to be called Aisle Dutch TopCo would offer a debt-to-equity swap or convertible bonds to creditors.” (Reuters)