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International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 05:49

Lithuania's Agrowill Group settles up with its creditors

BC, Vilnius, 20.11.2015.Print version
Agrowill Group, one of Lithuania's largest agricultural investment groups, on Friday paid 1.56 million euros to its creditors, thus completing its restructuring process launched in 2011, cites LETA/BNS.

The company said that it paid the remaining 85% of creditors' claims on Friday, following the repayment of 15% back in December 2014.

 

"Our success story is not only good news to creditors, but also a proof that the restructuring model is workable and viable," Valdas Bagavicius, a member of the management board at Agrowill Group, said in a press release.

 

"I think that investors and financial institutions will appreciate that as well," he added.

 

Under is restructuring plan, approved in November 2010, the company was to settle with creditors over a period of four years. Its debt to creditors totaled around 3.5 million euros.

 

Agrowill Group has 164 subsidiaries and employed a workforce of 1,102 in late June.

 

The company is listed on the Nasdaq Vilnius stock exchange and on the Warsaw Stock Exchange.





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