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Gazprom may buy Crotian INA from MOL

Deals

Russian power and energy giant Gazprom has expressed its intention to buy a controlling stake INA, the Croatian refiner that is currently majority owned by Hungarian gas and oil giant  MOL, Hungarian business daily Világgazdaság said, citing Croatian press reports today.

MOL and INA have been involved in several disputes, and this is not the first time the Russians have mentioned becoming potential buyers.

According to the business daily, MOL is very close to selling its almost 50% stake in INA, and the Hungarian gas and oil company would be happy with the sale.

The final verdict would be given by Viktor Orbán, the Prime Minister of Hungary, following discussions with EU officials. Gazprom is impatient, as its officials would reportedly prefer to receive an answer by the end of this year, and to execute the takeover in 2015.

Along with buying MOL's shares in INA, Gazprom would also purchase another 19% stake from the Croatian government, leaving the latter with 25% of shares, Világgazdaság said.

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