Ivica Todorić (Agrokor, Frikom...) in big debts ?

Two big world financial agencies have made the decision on lowering of credit rating of company Ivica Todorović, the biggest entrepreneur on the territory of food industry and trade in Croatia, who bought Frikom. Todorić’s Agrokor got into big debts, especially after the takeover of two big Croatian combines PIK Belje and PIK Vrbovec.

In 2007, Agrokor will have to pay obligations of over €230m, which it created through financing of takeovers of other companies.

Management of Agrokor says these claims are not true.