Croatia considers selling additional 19% stake in INA to Hungarian MOL?

For some time,there has been the story that the Government of Croatia has been considering sales of another 19% stake in INA to Hungarian MOL.This information has been informally confirmed by sources close to the High Government for Vecernji list.

- I can confirm that the Hungarians are very interested in purchasing an additional stake in INA –an interlocutor of this magazine said.

The official response of the Croatian government is that no official discussions on that topic occurred. The source of Vecernji list, however, added that, although MOL has not yet given ​​any formal offer, the Government estimates that sales of 19% stake in INA could generate between EUR bn and EUR 1.5 bn. MOL representatives said " not want to comment on rumors and speculations."

- We are aware that, if we opt for that,we will have difficulties in explaining to the Croatian public the reasons for selling another 19% of INA, however, in the current situation, will have 44% or 25% stake, in terms of corporate governance, it is almost the same - the source of Vecernji list said, adding that it would be difficult to make final decision before the trial to Ivo Sanader ends.

INA d.d. Zagreb

MOL Hungarian Oil and Gas Budapest (Mađarska)

Vlada Republike Hrvatske

INA

MOL

Government of Croatia

Ivo Sanader