Hungary, Croatia, Bosnia: MOL sold its minority stake in Energopetrol to INA

, SEE Energy News

Hungarian oil and gas company MOL announced that it has sold its minority 33.5 % stake in Bosnian oil company Energopetrol to Croatian INA. MOL holds 49.1 % stake in INA.

After this transaction, Croatian oil company INA will hold 67 % of the shares in Energopetrol, the Government of the Federation of Bosnia and Herzegovina has 22.1 % of the shares, while the remaining 10.9 % is publicly traded at the Sarajevo Stock Exchange.

INA has become the single largest distributor of petroleum products in Bosnia and Herzegovina (BiH) with a total of 101 petrol stations in its retail network. The decision on the acquisition of MOL’s shares has been brought on the basis of good knowledge of market opportunities in BiH, with the aim of further strengthening the regional position of the company that could have a positive impact on its business.

In 2006, INA/MOL consortium purchased the 67 % stake in Energopetrol for 112.5 million euros, where 37.5 million euros was invested in cash, and the rest should have been invested in various projects, transmits