Agrokor signs Contract with EBRD and Alpha Bank
Oct 20, 2008
EUR 70 million for development
Agrokor has signed a Contract on Long-term Loan with the European Bank for Reconstruction and Development (EBRD) and Greece's Alpha Bank in the total value of EUR 70 million. The funds concerned will be focused on further development of Agrokor’s retail business in Serbia.The investment will benefit our customers in the long run and generate the creation of new jobs. This Contract is the continuation of a long-term successful co-operation between Agrokor, EBRD and the Alpha Bank, and another testimony and recognition of Agrokor’s business strategy. "We are proud to conclude this long-term arrangement under such extremely competitive conditions and under exceptionally difficult market conditions, when loan financing has become significantly harder. As far as the last two months are concerned, this loan is one of the few loan arrangements to have been achieved. And we are specially happy that it was successfully syndicated with leading bank and financing groups in Europe – EBRD and the Alpha Bank, demonstrating the faith in Agrokor's vision and quality of business activity." - said Ivan Crnjac, Executive Vice President for Strategy and M&A.