MOL Plc. has notified the market on the website of the Budapest Stock Exchange that MOL Group has signed a Shareholders’ Agreement with the Serbian government regarding the future governance of Naftna Industrija Srbije (NIS). If MOL Group successfully becomes the majority owner, it will en sure the development of NIS, the supply of the Serbian market, and the operation of the Pancevo refinery in Serbia.
In addition to signing the sales and purchase agreement, the completion of the transaction requires further regulatory approvals. MOL Group continues negotiations with Gazprom Neft regarding the acquisition of its 56.15% stake in NIS.
MOL Group has signed a Shareholders’ Agreement with the Serbian government regarding the future governance of Naftna Industrija Srbije (NIS), the structure and decision-making processes of its
governing bodies, as well as its strategic objectives.
The agreement enables MOL Group, as a majority shareholder, to take responsibility for the professional management, stable operations, and value-creating investments of NIS. Upon successful completion of the transaction, MOL will ensure the supply of the Serbian market and the operation of the Pancevo refinery, while further strengthening the network and logistics connections of MOL Group’s energy facilities.
“As a result of constructive negotiations with the Serbian government, we have reached an agreement on the governance of the company. Upon successful completion of the transaction, MOL, as majority
shareholder, will be able to manage NIS efficiently on a professional basis. We can begin our joint work with clearly defined responsibilities and decision-making processes. We can put an end to this long period of uncertainty. I look forward with confidence to working together with the Serbian government. We will do everything we can to make NIS stronger and more profitable, and to ensure that Serbia sees us as a reliable partner. However, it is important to emphasize that this agreement does not yet mark the end of the sale process. An agreement must still be reached with the seller, and approval from the United States must also be obtained," Chairman and CEO of the MOL Group, Zsolt Hernádi was quoted as saying in the statement.
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