MOL granted permission to continue negotiations on acquisition of NIS until June 16 – Latest extension enables finalization of transaction documentation

The Hungarian oil company MOL announced that it had received official permission from the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury to continue negotiations on the acquisition of a majority stake in Naftna industrija Srbije (NIS) until June 16.

This is not the first time that the permit has been extended, the last time the permit was extended on May 22 for 15 days - until June 6.

OFAC has now extended this deadline by another ten days, although MOL requested an additional 30 days, reports the Hungarian economic portal Vilaggazdasag.

– Following the approved extension of the permit, negotiations have progressed significantly, and this latest extension allows the finalization of transaction documentation – says a short statement by MOL published on the Hungarian Stock Exchange.

NIS a.d. Novi Sad

MOL Serbia d.o.o. Beograd

MOL Hungarian Oil and Gas Budapest

MOL Group

OFAC

Naftna industrija Srbije

sale of NIS