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Agrokor’s Extraordinary Administration and Sberbank have signed an agreement which sets out steps that will result in the withdrawal of litigation proceedings and recognition of Sberbank’s claims

Agrokor’s Extraordinary Commissioner Fabris Peruško and Sberbank’s First Deputy Chairman of the Management Board Maksim Poletaev have signed a term sheet by which principles are set for Sberbank and its affiliates in due course to withdraw the litigation proceedings they have initiated against Agrokor and its affiliates and for the Extraordinary Commissioner to admit Sberbank’s contested claims and propose that Sberbank’s recognized claims are included in an updated list of claims submitted to the Commercial Court of Zagreb.

Extraordinary Commissioner Fabris Peruško said: “I am pleased that we have been able to agree a roadmap regarding two major points we hope to achieve with Sberbank – them withdrawing the litigation proceedings and Agrokor recognizing their claims. This agreement will allow the Extraordinary Administration and Sberbank to proceed together in a constructive manner towards reaching the overall settlement among all creditors. Recognition of Sberbank’s claim will enable them to vote in the settlement and will facilitate progress towards our mutual goal, which is a settlement that will deliver a sustainable future for the new Agrokor.”