Croatia, Hungarian MOL discuss development of INA.

By bne IntelliNews February 9, 2011
Representatives of the Croatian government and the Hungarian oil and gas company MOL met to discuss the further strategic development of Croatian company INA, news agency HINA reported, quoting economy minister Djuro Popijac. Popijac declined to provide further details. In December 2010, Croatia said it would keep the right to take legal and institutional actions regarding INA and will protect its strategic interests in the energy sector, following MOL's offer to buy out the stakes of INA' small shareholders. MOL offered a price of HRK 2,800 (EUR 380) per share, aiming at the acquisition of 800,910 shares or 8% of the company for EUR 304mn. However, its attempt failed after it was offered only 0.1% of the company. MOL owns 47.15% of INA, while the government holds 44.84%.

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