Competition agency halts sale of Crobenz to Croatian Petrol Stations.

By bne IntelliNews May 6, 2010
The Market Competition Agency (AZTN) halted the sale of fuel trader Crobenz to Croatian Petrol Stations saying that the buyer does not meet the necessary requirements, which include payroll and experience in the sector. Croatian Petrol Station is part of Slavia Capital Group, whose core activity is investment and financial business. The country's oil and gas company INA sold Crobenz in the beginning of April for an undisclosed sum. The sale agreement was based on INA's obligation under the decision of the Croatian Competition Agency, dated June 9, 2009, which approved the acquisition of operational control of INA by the Hungarian oil and gas company MOL provided that INA sells its stake in Crobenz. INA reportedly received letters of intent for Crobenz from six companies. According to unofficial information, the interested buyers were Russia's Lukoil, Slovenia's Petrol, OG Adriatic, TA, Bosnian Optima Grupa and a Slovak firm.

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