June 20 (SeeNews) - Croatia's Agrokor said on Tuesday legal and commercial due diligence is underway for the sale of six companies within the ailing food-to-retail concern, as well as several properties and movable assets.
The six companies will not be named before the sale process is launched, Agrokor said in its monthly report put together by its extraordinary administration.
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The concern explained it has divided into four categories the 143 companies in which it has a stake - retail, food production, agriculture and Agrokor Portfolio Holdings (APH).
The retail category is made up of 26 entities including Konzum and Mercator; the food production category encompasses 32 entities including Ledo, Dijamant and Jamnica; the agricultural category has 17 entities; while the fourth category contains 68 entities which do not fit into any of the above categories.
The holding company Agrokor falls in the APH group, along with 26 operational companies, 25 asset/real estate holding companies, 14 empty shell companies, and two investment holding companies, the concern said.
The six companies for which legal and commercial due diligence is underway belong to the group of 26 operational companies.
Further on, more companies will be offered to investors, the concern noted.
In addition to the subsidiaries, APH has identified an initial list of 267 properties, including major development sites, residential, commercial, office and industrial properties, land, and moveable assets - a yacht and a helicopter. Legal and commercial due diligence and the process of selecting the appropriate sales agent is underway in order to prepare these assets for sale, Agrokor said.