“Russia’s Sberbank is in negotiations to swap its 18 and a half percent stake in Slovenia’s Mercator for a larger stake in Mercator’s parent company, Agrokor, according to Bloomberg, which cited two sources close to the negotiations.
Sberbank is looking to increase its stake in Agrokor, which it is likely to gain through the settlement in a debt-for-equity swap.
The news has upset other creditors, suppliers in particular, who are demanding equal treatment when it comes to recovering their claims.
Sberbank is Agorkor’s single biggest creditor with loans worth 1.1 billion euros. Under a settlement plan released last Friday by Agrokor’s crisis managers, Agrokor would be taken over by a new Dutch-based company, owned by creditors. This would make Sberbank the biggest single shareholder in the new company following the settlement.” (Voice of Croatia)