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.

ADVERTISEMENT

Recovery in Eurozone Private Sector Eases Fear of Recession Analysis

Recovery in Eurozone Private Sector Eases Fear of Recession

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

Budapest Airport Recovers 75% of Pre-COVID Traffic in 2022 Transport

Budapest Airport Recovers 75% of Pre-COVID Traffic in 2022

Mangalitsa Promotional Campaign Kicks Off Food

Mangalitsa Promotional Campaign Kicks Off

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.