Agrokor's Administration Proceedings Are Entering The Final Stage

After almost two years, the extraordinary administration proceedings over Agrokor and 77 of its Croatian group companies is entering its final stage.

On 1 March 2019, the Commercial Court in Zagreb followed the motion of extraordinary commissioner Fabris Perusko to announce 1 April 2019 as the so-called Implementation Commencement Date (the "ICD"). On the ICD, the settlement plan which became binding on 18 October 2018 will be implemented. During the implementation, Agrokor will no longer operate its business, which instead will be transferred to a recently incorporated Croatian joint stock company, currently named AISLE HoldCo d.d.

While most of the well-known consumer brands will survive, the new holding company will no longer be named Agrokor but will be renamed Fortenova Grupa d.d. ("Fortenova"). Fortenova will be structured as a joint stock company, with nine directors and three executive directors, with the CEO being a member of both bodies. For the time