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MOL unit MET, Croatiaʼs PPD could buy Petrokemija

Deals

Hungarian gas supplier MET Magyarország and Croatian gas distributor Prvo Plinarsko Drustvo (PPD) are set to make an offer for Croatian artificial fertilizer manufacturer Petrokemija, Croatian daily Vecernji List said yesterday.

In March, the state of Croatia, Petrokemijaʼs majority owner, offered 44% of the companyʼs shares to PPD and oil and gas company INA in a debt-for-equity swap, but sealed no deal. Petrokemija owes the companies a combined HRK 320 mln.

Hungarian oil and gas company MOL owns 40% of MET. It also holds a 49% stake in INA.

The paper said the state is ready to sell its majority stake in Petrokemija to MET and PPD, thus preventing the company from going into liquidation.

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