Croatian government to announce position on MOL offer for 8% of INA this week.

By bne IntelliNews December 8, 2010
The Croatian government will make a statement, regarding the offer of Hungarian oil and gas company MOL towards the small shareholders in Croatian peer INA, by the end of the week, news agency HINA quoted PM Jadranka Kosor as saying. Kosor denied further comments, saying that the government was holding intensive consultations at the moment. MOL offered a price of HRK 2,800 (EUR 380) per share to the small INA shareholders, aiming at the acquisition of 800,910 shares or 8% of the company for EUR 304mn. The nominal value of the shares stands at HRK 900. In 2008, MOL bought 22.15% of INA trough a voluntary takeover bid. MOL now owns 47.15% of INA, while the Croatian government holds a 44.84% stake.

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