Tycoon’s Balkan Empire Unravels in 60 Days of Market Panic
- Agrokor lender Sberbank demands Todoric cede control
- Russian bank set condition for rescuing the ailing retailer
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It took Ivica Todoric 41 years to build an empire that now accounts for almost a sixth of Croatia’s economy.
But two months of market panic were all that were needed for his main creditor, a Russian bank run by a longtime ally of Vladimir Putin, to decide that it’s time for him to go.