MRIYA Agro Holding official statement
In December 2016, Mriya received unsolicited non-binding indicative offers to acquire all or part of its business and assets. Following consultation with its Creditor Committees, Mriya determined not to accept any of the proposals due to a range of concerns including the structure of the offers.
Following further consultation with the Creditor Committees Mriya will allow the bidders, at their discretion, to undertake additional due diligence, which may or may not result in revised proposals. Regardless, Mriya is continuing to implement its strategic & operational plan developed together with its creditors and in parallel aims to complete its restructuring in the coming months.
Note to editors:
In August 2014, Mriya was unable to meet its obligations to creditors and defaulted. The total indebtedness of the company, including guarantees and pledges given by Mriya to companies affiliated with the Huta family was USD 1.3bn at the moment of default. From February 2015, control of Mriya’s assets passed to its creditors – mainly European and US investors – who decided to preserve the company. New management was appointed in early February 2015 and in September 2016, Mriya’s creditor and bondholder committees agreed the conditions for restructuring its debt portfolio that today stands at USD 1.1bn.