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Food producer, Agrokor, Croatia’s largest private firm, and the biggest employer in the Balkans, has been forced into a government-appointed restructuring plan to rescue the debt-laden business. Agrokor owner, Ivica Todoric, handed control of the debt-laden company to the state under emergency law in March, and the government has wasted no time appointing AlixPartners to provide advice on securing short-term liquidity. Agrokor owes 45 billion kuna ($6.57 billion), and the first focus of AlixPartners’s work will be to provide advice on managing its cash flow, operations and profitability. Ante Ramljak, who has been appointed by the government as the firm’s crisis manager said: “In competition with five other respectable international firms I believe we have chosen the best offer, which includes both quality and price. As a next step, we, with AlixPartners, will prepare a restructuring plan and submit it for approval to creditors."

ante ramljak

See : www.reuters.com

Peter Crush for Consultor.news

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