MOL CEO ready for talks with Croatian gov’t on INA

Deals

Chairman/CEO Zsolt Hernádi of Hungarian oil and gas company MOL on Thursday said in an interview with the website Merchantcantos.com that the company is prepared to hold talks with the government of Croatia regarding the future of Croatian peer INA, though the issue of corporate governance in the latter company is not negotiable. 

“At the end of the day, we have to take the decision. If we see the Croatian government is ready to support the so-called business path then we will develop INA together,” Hernádi said, adding that “we are not ready to negotiate about corporate governance.”

Hernádi reiterated that MOL is ready to sell its 49.1% stake in INA if talks between the company and Croatia’s government, which owns 44.84% of INA, fail to produce an agreement.

Hernádi himself has been a focal point for difficulties in the negotiations between the two parties since at least late September, when Croatian law enforcement officials issued an arrest warrant for the CEO. Hernádi is wanted for questioning in relation to a bribery case involving now-deposed and incarcerated former prime minister Ivo Sanader.

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