Slovnaft, the Slovakian arm of Hungarian oil and gas group MOL, is interested in buying the 49% stake in oil pipeline operator Transpetrol owned by YUKOS, the company announced. Slovnaft had offered financial assistance to the government, which currently owns 51% of the stake and wants to buy the YUKOS part back. The company also said it would accept all four conditions set by the economy ministry but did not elaborate which ones. Under the privatisation deal from 2002, YUKOS acquired the Transpetrol shares and management rights for $74 million. MOL already owns all the crude oil pipelines in Hungary so the acquisition of the Slovak pipeline may create some synergies, Olena Kyrylenko of KBC has commented on Wednesday. “These are not expeted to be major since MOL still would have the minority stake. However we can imagine that the potential deal with the Slovak government may include the favourable conditions for the Slovnaft regarding the taxation issues," the analyst added. (Portfolio)
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