Serbias NIS interested in Bosnian fuel retailer Krajinapetrol.

By bne IntelliNews February 22, 2013
Serbian energy firm and Petrobart Limited Gibraltar have asked for a postponement of the bourse auction for a 45% stake in Bosnian fuel retailer Krajinapetrol in order to gain more time and adequately prepare for the sale, news service eKapija informed, quoting reports in Bosnian media. Bosnias Serb Republic Investment-Development Bank (IRB) has announced it will offer the governments 45% stake in Krajinapetrol on the Banja Luka bourse, seeking to raise an overall BAM 9.2mn (EUR 4.7mn). The head of IRB, Snezana Vujnic confirmed the interest of NIS and Petrobart, saying they could not meet their demand since the auction was already scheduled for Feb 19-21. Vujnic said she was informed that NIS is already gathering data about Krajinapetrol but the Serbian company needed more time for its executives to take the necessary decision for the purchase. IRB is ready to repeat the action at the same conditions within a month if the current sale fails. A total of 6,316,286 Krajinapetrol shares will be auctioned at a starting price of BAM 1.46 each. According to Krajinapetrols website, among its other significant shareholders are Petrobart Limited Gibraltar with 25.3% and Croatias INA with 9.7%. The Bosnian companys latest available financial statement showed it turned to a BAM 279,000 loss in 2011 from a BAM 56,100 profit in 2010.

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