June 8 (SeeNews) - The total value of the companies within Croatia's ailing Agrokor concern is estimated at 3.47 billion euro ($4.1 billion), the food-to-retail conglomerate said on Friday, citing preliminary data.
These are 140 companies plus the Mercator Group, which has 15 subsidiaries, Agrokor said in a statement on its website.
Of the total number, 77 companies are subject to the process of crisis management launched last year at Agrokor by the Croatian government.
Agrokor said earlier this year the creditors' claims against the indebted concern total some 57 billion kuna ($9.1 billion/7.7 billion euro).
Agrokor's top 19 companies are valued at an estimated total of 2.2 billion euro. Among them, mineral and spring water and fruit juice bottling company Jamnica [ZSE:JMNC-R-A] is the most valuable, estimated to be worth 494.9 million euro.
The second most valuable company in the concern is food company Ledo [ZSE:LEDO-R-A] worth 280.9 million euro, followed by farming and food processing company Belje [ZSE:BLJE-R-A] with 276.5 million euro. Next is retailer Konzum, valued at 209.3 million euro.
Overall, companies under crisis management are worth a combined 2 billion euro, while Slovenian retailer Mercator and other retail, food and agri companies outside of the process are worth a total of 1.5 billion euro. Mercator is valued at 878.6 million euro.
In April last year, the government seized control of Agrokor from its owner Ivica Todoric under special legislation designed to prevent the collapse of the concern.
Under a debt settlement plan, which in accordance with the law must be signed by the creditors by July 10, Agrokor's emergency management is proposing that the creditors become the new owners of the concern, while in return writing off a portion of their claims.
($=0.850052 euro)
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