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Sberbank to Lend 600M Euros to Agrokor

By The Moscow Times

Russia's biggest lender Sberbank said Thursday it would lend Croatia's biggest food producer and retailer Agrokor 600 million euros ($829.47 million) to help it refinance existing debts and provide funds for company development.

Sberbank in Russia will provide 500 million euros while its Vienna-headquartered subsidiary Sberbank Europe AG will provide an additional 100 million euros, the bank said, in one of its largest corporate deals to date.

"Sberbank is committed to expanding its footprint further into Central and Eastern Europe as part of its international strategy," said German Gref, the chairman of Sberbank Group's executive board.

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