Antonio Alvarez to run Agrokor?

Antonio Alvarez III is to manage the restructuring of Agrokor, as N1 learns unofficially. As they say, Alvarez originates form a big global consulting firm which specializes in restructuring, Alvarez & Marsal, and is well familiar with Agrokor’s operations.

The firm has been present in Agrokor for some time now since the Russian Sberbank hired it to come up with an exit strategy.

According to the data published on the company’s web pages, Alvarez has been active in private and public companies throughout Europe for 25 years – from Great Britain, through Germany, France, Italy, Spain, Holland, Luxembourg, Switzerland, Finland, Estonia and Romania.

He previously headed the restructuring teams for several multinational companies with tens of thousands of employees.

His father is a co-founder of Alvarez & Marsal, Antonio Alvarez II.

As reported earlier, the management of Agrokor is to change, though not in its entirety. First, it will be strengthened by establishing the position of the restructuring director as a key person for carrying out the stabilization program.

Let us remind that the management of Agrokor reached an agreement on a so called- standstill arrangement with its creditors on March 31 and that Ivica Todoric agreed to leave the leading position within the company.

The arrangement entails an agreement between all the creditors not to start collecting claim during the precisely defined restructuring process.

Fortenova grupa d.d.

SBERBANK Rusija

Antonio Alvarez III

Agrokor

restructuring Agrokor

Alvarez & Marsal

Sberbank

standstill arrangement Agrokor

restructuring director Agrokor

Ivica Todoric