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Sberbank plans to sell stake in Croatia's Agrokor in H1 - RIA

Sberbank plans to sell stake in Croatia's Agrokor in H1 - RIA
FILE PHOTO: Participants cast their shadows on a board with the logo of Sberbank at the St. Petersburg International Economic Forum (SPIEF), Russia, June 1, 2017. REUTERS/Sergei Karpukhin   -   Copyright  SERGEI KARPUKHIN(Reuters)
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MOSCOW (Reuters) – Russia’s Sberbank <SBER.MM>, a key shareholder in Croatian food producer and retailer Agrokor <AGROK.UL>, plans to sell its stake in the first half of this year, Interfax quoted a Sberbank executive as saying on Thursday.

An aide to Sberbank’s CEO, Maxin Poletayev, told Reuters last month that Sberbank has started to receive interest from potential buyers for its stake in the firm which is emerging from a debt crisis.

In October, a Croatian court approved a deal for Agrokor that included a debt-for-equity swap. This made Agrokor’s biggest single creditor, Sberbank, its largest shareholder.

(Reporting by Katya Golubkova. Editing by Jane Merriman)

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