Hungarian oil and gas company MOL announced on Thursday that it successfully concluded negotiations with the government of Serbia on the conclusion of a shareholders' agreement for the acquisition of a majority stake in Serbian peer NIS.
"Negotiations with the seller and the relevant authorities are ongoing in order to finalize the transaction," MOL's statement is quoted by MTI.
MOL signed a heads of terms agreement in January on the acquisition of a 56.15% stake in NIS from Russia's Gazprom Neft which was targeted by United States sanctions. The state of Serbia holds a 29.87% stake in NIS.
The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury recently extended a deadline for winding up talks on the acquisition of the NIS stake until June 16.
Serbian Energy Minister Dubravka Dedovic Handanovic said on Wednesday that Serbia had reached a compromise with MOL on the shareholders' agreement. In a social media post, she stated the agreement with MOL provides Serbia with "additional rights in decision-making or blocking important decisions".
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