Sberbank to sell Agrokor stake after restructuring, IPO possible

Sberbank will sell its Agrokor stake after it restructures it, thereby increasing its value, said the adviser to the CEO of Sberbank for Agrokor and future member and chairman of the Managing Board of Fortenova (Agrokor’s new name), Maxim Poletaev.

– Before we sell our stake, we want to restructure the company and increase its value, and one of the exit strategies is an IPO. Now is not a good time for sale and it’s better to increase the company’s value and wait for the period after 2019. In the meantime, the company needs to raise the quality of corporate management, the retail business technology, the corporate culture and the managing of the company – Poletaev told Bloomberg.

When asked whether workers will be laid off in certain companies during the restructuring, he said that “those who work well can rest easy”.

Beginning with April 1, Agrokor will be called Fortenova Group and Sberbank will formally become the owner of a 39% stake in the concern.

Sberbank

Agrokor

Maxim Poletaev

Fortenova

new Agrokor

restructuring of Agrokor

IPO Agrokor

sale of Agrokor stake