Croatia, Hungary: Croatian gov plans to offer new shareholder contract to MOL

Published on 27. May 2015., SEE Energy News

Croatian government plans to offer to MOL a new shareholding contract for Oil company INA stated Economy Minister Ivan Vrdoljak.

“We have prepared a proposal for a new shareholding agreement,” Vrdoljak said, adding that the proposal will be sent to MOL “very soon”.

Hereby Vrdoljak only repeated the announcement pronounced even in November last year when the talks on resolving the dispute between the government and MOL initiated. Vrdoljak once mentioned the option according to which Croatia could buy from MOL INA’s shares with a secured loan or cooperate with the Hungarian company on the sale of its share to someone else, e Vrdoljak repeated, although in SDP’s part of the government, but Prime Minister Milanovic eliminated such possibility.

MOL owns slightly less than 49 percent of INA, the Croatian government controls nearly 45 percent, noting that the two largest shareholders of INA have been disputing for several years over the management rights and the future development of one of the biggest Croatian companies.