Croatia selects mediator for talks with MOL

Deals

The Croatian government authorized Economy Minister Ivan Vrdoljak to select a mediator who would help the government's and Hungarian oil and gas company MOL's negotiators to find a solution for INA, Croatian news agency HINA reported today quoting an unnamed source.

An American company is also interesed in INA; this would be in line with October’s news reports suggesting that the U.S. government has offered friendly mediation in the dispute between the Croatian government and MOL over INA.

MOL owns 49.08% of the shares of its Croatian peer INA, complete with management rights, while the Croatian state owns 44.84% of the company.

On November 5, Bloomberg reported that Croatia was preparing for a possible purchase of Hungarian MOL oil company’s stake in its Croatian peer, INA, in the event that the ongoing talks with MOL on the joint management of INA should fail.

Earlier, on November 3, the U.S. expresssed its disagreement with the rumored sale of MOL’s 49% stake in INA – Croatia’s largest energy company – to Russian energy giant Gazprom. International news agency Reuters reported that U.S. diplomacy was attempting to block the transaction that would allow Gazprom to establish itself within the EU between partly state-owned MOL and partly state-owned INA.

ADVERTISEMENT

Slovakia Producer Price Inflation Slows in December Figures

Slovakia Producer Price Inflation Slows in December

Gov't to Launch HUF 700 bln Business Credit Scheme  Government

Gov't to Launch HUF 700 bln Business Credit Scheme 

Industrial Producer Prices up 34.9% y.o.y. in December Manufacturing

Industrial Producer Prices up 34.9% y.o.y. in December

Hungary's Largest Hotel, Danubius Hotel Hungaria, to Reopen Hotels

Hungary's Largest Hotel, Danubius Hotel Hungaria, to Reopen

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.