News

Agrokor announcing its intention to appoint the leading independent global restructuring advisors Alvarez & Marsal

alvarez1 - 1200px.jpg

Agrokor is announcing its intention to appoint the leading independent global restructuring advisors Alvarez & Marsal (A&M).

Headed up by Mr. Antonio Alvarez III, who is being proposed as CRO by the company, Alvarez & Marsal will help lead Agrokor through what is likely to be a complex restructuring.

This appointment has the support of the key creditors and the company. Alvarez & Marsal will be working to gain support of all stakeholders including suppliers, landlords and employees in the next few days.

Antonio Alvarez III is Executive Director for Restructuring at Alvarez & Marsal. He will lead a team of experienced advisors to begin the restructuring of Agrokor. Their aim will be to secure the long-term viability of the business and to maximize value for all stakeholders.

“We will do everything in our power and work together with the key stakeholders to the greatest possible extent in order to safeguard good supplier relations and to secure jobs. We shall consider all the restructuring options available to us.” Alvarez said.

Alvarez & Marsal have a strong track record in restructuring companies facing similarly complex situations. The team’s focus will be to secure stability of operations and restore the confidence of all major stakeholders involved in the processes, primarily suppliers, creditors and employees.

Antonio Alvarez III has more than 25 years of experience in advising and restructuring public and private companies. In the recent past he has acted as CRO of both Abengoa Group, one of the world's leading renewable energy companies, and of Edcon Group, a large African retailer.

Alvarez & Marsal is a global consultancy firm that specializes in providing support and managing operations through challenging circumstances. It has a track record of numerous successful projects and results. A&M operates internationally level, employing more than 2900 people at 45 offices in 18 countries on 4 continents.