Croatia will decide in coming days whether to place troubled shipbuilder Uljanik into bankruptcy or try to restructure the business at a cost to the state of around one billion euros, a top official said on Wednesday. Last month Uljanik, the country’s largest shipbuilder, chose local rival Brodosplit as a strategic partner to restructure its operations, with Italian shipbuilder Fincantieri acting as an adviser in the process, Reuters reported.
Russia’s Sberbank, a key stakeholder in Croatian food producer and retailer Agrokor, has started to receive proposals to sell its share in the firm which is emerging from a debt crisis, an aide to Sberbank’s CEO said. Agrokor, the largest firm in the Balkans with over 50,000 staff, was put under state-run administration last year, crippled by debts built up during an ambitious expansion drive, Reuters reported. In October, a Croatian court approved a deal for the indebted Agrokor that includes a debt-for-equity swap.