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MOL stake in INA could be worth USD 800 mln

Deals

Hungarian oil and gas company MOLʼs 49.08% stake in Croatian peer INA could be worth some USD 800 million, Hungarian business daily Világgazdaság writes, citing a report in Croatian weekly Nacional.

Nacional learnt that the potential valus of the stake from sources in the economy and energy ministries. The weekly said the figure is close to the value of the stake estimated by financial advisory and investment management firm Lazard.

Lazard has prepared a report for the Croatian government on a possible buyback of the MOL stake in INA, but the report has not been made public.

Nacional said a buyback would require the involvement of a strategic investor and learnt that four industry players had expressed interest in the matter: two from Europe and two from other regions.

The most serious contender is Russiaʼs Rosneft, the weekly said. MOL and the government of Croatia, which owns 44.84% of INA, have long been at odds over investments at INA. Croatiaʼs government announced its intention to buy back MOLʼs stake in INA late in 2016.

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