MOL sells Energopetrol stake to INA

July 18, 2016

Hungarian oil and gas group Mol has announced that it is selling its minority stake in Energopetrol to INA, its own Croatian subsidiary. According to the announcement, Mol signed a share purchase agreement with INA with regard to the sale of its 33.5% equity stake in Energopetrol.

Following the completion of the
transaction, INA holds a 67% ownership stake in Energopetrol. The rest of the
company is held by the Government of Bosnia-Herzegovina with an ownership of
22.1% while a further 10.9% is publicly traded on the Sarajevo Stock Exchange. Energopetrol
is among the top fuel retailers in Bosnia-Herzegovina, it owns and operates
more than 60 retail stations and conducts wholesale activities across the

"Following the completion of
the deal further operational and organizational synergies are expected to be
delivered as INA is a major player in the wholesale and retail motor fuel
markets of Bosnia-Herzegovina," Mol said in a statement on the website of
the Budapest Stock Exchange (BSE). Mol acquired a majority stake in
Energopetrol in September 2006 when the Mol-INA consortium signed a contract
with the government of Bosnia-Herzegovina, and became the majority owner of
Energopetrol with a 67% holding obtained via a capital increase. The biggest
yield of the acquisition for Mol, besides entering a new market, was possibly
the strengthening of its relation with INA.


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