Sberbank blocks sale of Frikom and Dijamant – Restrain on alienation and encumbrance for Agrokor

The Russian Sberbank has submitted a request to the Commercial Court of Belgrade and the Commercial Court of Zrenjanin for a restraint on the disposal of the property of Frikom and Dijamant, and the temporary manager of Agrokor, Ante Ramljak, has therefore been restrained from the “alienation and encumbrance” of these companies, Politika reports.

In other words, the newspaper writes, Sberbank has disabled Croatia from using the two Serbian companies as collateral in taking out the new loan.

– Not only will Ramljak not be able to put these two companies as collateral for Agrokor’s loan without the Serbian state and the Russian bank, he won’t be able to decide on their sale independently either – the Belgrade newspaper says.

As Politika learns from sources familiar with the negotiations, the Commercial Court of Belgrade reached the decision to impose temporary security measure on June 7, at the proposal by Sberbank.

The document means that the court forbids the Croatian company Ledo, which operates within Agrokor, from alienating and encumbering the 100% stake in Frikom.

Sberbank thereby ensures that the Croatian concern will repay them the loan of EUR 100 million, along with EUR 1.32 million in interest.

Ledo was a joint debtor for the loan, the agreement on which was signed on February 21, 2017, that is, before Lex Agrokor came into effect. The Business Registers Agency has already registered this temporary encumbrance measure, the newspaper writes.

Naša AIK Banka a.d. Beograd

Privredni sud u Beogradu

Privredni sud u Zrenjaninu

Frikom d.o.o. Beograd

Dijamant d.o.o. Zrenjanin

Fortenova grupa d.d.

Agencija za privredne registre Beograd

LEDO d.d. Zagreb

Sberbank

Commercial Court of Belgrade

Commercial Court of Zrenjanin

Frikom

Dijamant

Agrokor

Ante Ramljak

Agrokor operations

Ledo

Lex Agrokor

Business Registers Agency