Latest news in Agrexco saga

Before the sale of Agrexco, which is expected in the coming weeks, several new developments have been reported.

The Israeli newspaper Globes announced that Agrexco proposes to pay only 10 to 15% of its debts. The company owes nearly €30 million to creditors and tens of millions of euros to its employees, banks, and local authorities.

But the state of Israel, which holds 30.3% of Agrexco now seems to be making no gesture towards the creditors and will waive 85% of the debt.

Globes reveals that investors have hired an auditing firm to find out why they were not aware of the difficulties of the company. Meanwhile the report should reveal the responsibilities of each stakeholder. Investors are preparing to fight for a full refund of the debt.

source : globes