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AlixPartners Advisers for Agrokor's Restructuring

AlixPartners have been selected as Advisers for Restructuring of the Agrokor Group. Selection of AlixPartners is the result of a Call for Proposals for a Restructuring Advisor with international references, among which five other respectable international companies – McKinsey, BCG, EY, KPMG and Roland Berger – also competed. After the evaluation of all the offers by the Trustee Ante Ramljak and his domestic partners and their recommendations for the best one, their decision was approved by the Ministry of Economy, Entrepreneurship and Crafts.

Thus, AlixPartners will be partners in the restructuring process of the Agrokor Group. AlixPartners is one of the leading global restructuring advisors who will make an important contribution to the further process of stabilizing the Agrokor Group business with its knowledge and business experience.

AlixPartners – general information

AlixPartners was founded by Jay Alix in 1981 with a mission to find a better way to restructure good companies caught in hard times, with the goal to preserve assets and jobs. The company is one of the pioneers in corporate turnaround and restructuring industry. It initiated a series of innovative concepts and practices that are now used and recognized globally, such as the role of the Chief Restructuring Officer (CRO), turnaround teams and various restructuring techniques.

AlixPartners today is doing business in 17 countries and 27 locations worldwide. Since 2003, the company is present in almost entire Europe and it currently employs 439 experienced consultants. The values that are the foundation of AlixPartners business are open communication, transparency, dedication to service quality for each client, creating added value, reliability and confidentiality. The key comparative advantage is that their offices which are located around the globe function as one company that can quickly assemble the best team to offer quick and practical solutions.

AlixPartners - key expertise

AlixPartners has a high-quality restructuring team experienced in a range of different industries, with a particular focus on the segment of retail and FMCG. They have recently assumed the role of the Deputy CEO at the Cooperative Group in the United Kingdom, which owns a whole range of companies from supermarkets to farms and financial institutions.

The restructuring approach of AlixPartners is based on mutual cooperation with all key stakeholders that include employees and trade unions, business partners and suppliers, state, banks, owners, shareholders and creditors with a goal of detecting key interests and concerns of each of the interested parties and finding solutions. Once the solution is defined, a full corporate restructuring toolkit is used to implement a fast and efficient restructuring process that preserves the company's value.

AlixPartners’ expertise includes: improvement of business results and indicators, restructuring and new business turnaround, business planning, temporary liquidity insurance and money management, digital strategy and transformation, dispute and risk research, and transformational management.

In co-operation with Agrokor, the focus will be on the following areas:

1. Arranging Interim Liquidity – prioritizing business operations to make sure that liquidity is made available where it is most needed, especially where this liquidity can help manage risk items or generate positive cash flow. The special focus will be placed on the debt obligations towards suppliers.

2. Cash Management –focus will be on the robust cash forecasting and management processes which ensure a continuous cash-flow

3. Business Planning – defining the plan together with the company and its crucial stakeholders. The plan will consider options for all divisions and business groups of Agrokor Group and will also lay out a program of operating performance initiatives in order to improve financial performance across the core business.

The main focus of the restructuring process will be on the final results.