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Banks not to trigger cross default clause for Mercator

Author: Ivana Tomičić Šušak

ZAGREB, April 14, 2017 (Hina) - The Mercator food retail chain Management Board has asked creditor banks not to trigger the so-called cross default from loan agreements according to which, if the troubled Croatian food concern Agrokor is unable to pay its debts, the claims would automatically be forwarded to Mercator, the Slovenian media said on Thursday, adding that most of the banks agreed to that.

(Hina) its

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