Croatia, MOL to resume talks on INA

Deals

The government of Croatia and Hungary's oil and gas company MOL are set to resume talks at the end of March over the jointly-owned Croatian oil firm INA with help of an international facilitator, Croatia's Economy Minister told Reuters yesterday.

Both sides have accepted the offer from the United States to help them resolve a long running dispute and steer the talks on INA's future, Ivan Vrdoljak said.

"Each side has agreed to engage the facilitator. If MOL accepts our starting position, which includes a new shareholding agreement and a new strategy for INA's development, the dispute could be resolved during this government's mandate," Vrdoljak said.

Croatia, which owns 44.84% of Zagreb-based INA, has tried since 2011 to regain some management rights in INA that MOL acquired as part of a 2009 shareholders agreement, which has given it a 49.08% stake in INA. Talks started in September 2013, but have made little progress.

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