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News 21 Aug 17

Croatia Sells Villa to Help Cover Agrokor Debts

As part of its drive to cover Agrokor's debts of several billion euros, the Croatian company's state management is selling off a company villa on the Adriatic coast for 7 million euros, formerly used by Agrokor owner Ivica Todoric.

Sven Milekic

Croatia's new state management of Agrokor is selling off a 100-year-old Adriatic villa, the Villa Castello, as part of the drive to cover the company's huge debts of some 5.4 billion euros.

The villa located in Medveja near the coastal city of Rijeka, officially owned by Agrokor and used for years by its owner Ivica Todoric, is being sold for 7 million euros through the global real estate seller Sotheby’s International Realty.

The neo-classical villa of 851 square metres is located on 10,000 square metre estate, with a concession for the beach nearby.

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