Sberbank Says “Committed" to Croatia's Former Agrokor Group

Russia’s Sberbank said on Wednesday it was committed to improving the performance of Croatian food group Fortenova following reports that it is already in talks to sell its newly acquired stake, Reuters reported. Agrokor, the largest firm in the Balkans with 52,000 staff, was put under state-run administration after it was consumed by debts built up during an ambitious expansion drive. On April 1 Agrokor changed its name to Fortenova Grupa and Sberbank, formerly the biggest creditor of Agrokor, is now the biggest single shareholder with a 39.2 percent stake. “Sberbank is very committed to business here in mid-term. Our goal is to increase the value of the company together with other shareholders,” Maxim Poletaev, head of Fortenova’s management board and representative of the Russian bank, told reporters. Read more