Source: BIZLife | Thursday, 27.04.2017.| 09:39
Highlight an article Print out the news

Rodoljub Draskovic offering Todoric to take over Agrokor's operations in Serbia

(Photo: Damir Sencar/Shutterstock )
Rodoljub Draskovic, the owner of the Swisslion Takovo concern, has offered to the owner of Agrokor, Ivica Todoric, and the Government of Serbia (as an interested party) to take over the management of Agrokor's operations in Serbia, Nedeljnik reports.

Draskovic says for the magazine that Swisslion is prepared to take over the management of the totality of Agrokor's business in Serbia for a limited period of four years, with the first condition being full independence in decision-making and management.

– I would conduct complete financial consolidation of Agrokor's system in Serbia by the end of the year. I guarantee that all loans would be repaid within the next two years – Draskovic says and adds that what he's asking for from Todoric is a 35% ownership share in Agrokor in Serbia at the end of the completed revitalization process.

He claims that he is familiar with Agrokor's operations in Serbia and the he would need a month and a half to initiate the recovery.

– I'd aim for restructuring through revitalization and recovery. I take over the obligation to settle liabilities towards 1,000 suppliers by the end of the year and adhere to the repayment deadline period of 90 days from the establishment of the debtor-creditor relations – Draskovic said.

As he added, he would start repaying EUR 5 million each month to banks-creditors of Agrokor's companies in Serbia beginning with January 2018.

– Immediately following the takeover of the reprogramming system, I'd agree with the banks on annuity repayments beginning with January 1, 2018, as well as the annual interest rates. There's absolutely no distrust between the banks and my business system and we would realize 100% of what we agree on with the banks – Draskovic said.

He estimates that he could complete the financial consolidation of the Agrokor system in Serbia by the end of the year and that the loans would be repaid in the next two years.

– The state of Serbia should take upon itself the obligation to pay severance packages to surplus employees. I know that there's a surplus of 25-30% among the 12,000 employees in the Serbian part of Agrokor. This is incapable workforce and the majority of them can be found in commerce – Draskovic said.

He would also request to be exempt from income tax related to Agrokor companies by Serbia for four years, in order to facilitate the financial consolidation of the system.

Agrokor's business in Serbia encompasses the retail store Mercator and production companies Frikom, Dijamant, Mivela and Kikindski Mlin.
Only logged-in users can comment.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Testiraj besplatno!
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Testiraj besplatno!
Full information is available to commercial users-subscribers only.
Testiraj besplatno!

Log in to view complete information:
Forgot your password? Click here HERE
For free test use, click HERE