July 4 (SeeNews) - Creditors of Croatia's Agrokor holding 80.20% of the concern's total claims voted to uphold the settlement deal on Wednesday at a voting hearing held in Zagreb, Agrokor said.
The settlement was backed by creditors holding a total of 27.08 billion kuna ($4.3 billion/3.7 billion euro) of the concern's claims of a total 33.76 billion kuna, Agrokor said in a statement.
"Today is really a great day for Agrokor. The aim of the extraordinary administration was to reach an agreement that would be upheld by most of the creditors within the statutory deadline and we succeeded," Fabris Perusko, the concern's receiver, is quoted as saying.
For the settlement to become effective creditors holding 66.7% of claims had to support it.
The implementation process of the settlement is planned to last between three and four months, Agrokor said earlier.
(1 euro=7.39149 kuna)