Bosnia: State to sell stake in Energopetrol

Published on 27. November 2013., SEE Energy News

The Federation of Bosnia and Herzegovina on Tuesday has decided to sell its stake in the company Sarajevo “Energopetrol”, which since 2006 is majority owned by INA-MOL. The Privatization Agency has taken charge of sales activities on the state capital of “Energopetrol”.

As announced after the meeting of the federal government held behind closed doors, “the program of the Agency for privatization in Federation of BiH is adopted with the privatization plan for 2013, in part on the sale of 22.1214 percent of the state capital in ‘Energopetrol’ Sarajevo”.

The Privatization Agency has taken charge of sales activities on the state capital of “Energopetrol”.

It was also decided on the method of privatization and so 22 percent of state shares or 1,215,111 of them will be offered for sale on the market.

After negotiations that lasted a year and a half, INA and MOL bought 67 percent share in the Sarajevo oil company seven years ago, and so took over a large oil terminal near Sarajevo and many gas stations.

The price that they offered then was 112.5 MEUR. 37.5 MEUR was intended for takeover of a majority stake and the rest was related to the planned investments that have still not fully realized.

The remaining 11 percent share in the “Energopetrol” is owned by small shareholders.

Source; Serbia Energy See desk