Croatian watchdog affirms MOL-INA acquisition decision

Deals

MOL's acquisition of a minority stake in oil group INA was in line with Croatian laws, the country's competition authority said in a statement on Saturday, Index.hu reported, citing Croatian news website index.hr.

Hungarian oil and gas group MOL owns 47.16% of INA, while the Croatian government holds a 44.84% stake. The statement comes after four government-appointed supervisory board members of INA asked the regulator to review its resolution of 2009 that concluded MOL's acquisition of INA was lawful. The competition watchdog said reviewing its previous decision on MOL's ownership was not legally possible. Meanwhile, Croatian public television HTV said Croatian government officials have met with leaders of the attorney general's office in a private meeting to map out the government's possible moves with regard to INA.

The meeting was intended to look into possible strategies to protect national interests in INA and the possibility of renegotiating the ownership of INA gas business ownership and the company's shareholder agreement.

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