Report: Croatian PM seeking compromise on INA

Deals

The Croatian government is softening its stance on Hungarian oil and gas company MOL’s management of Croatian peer INA, Croatian daily Jutarnji List said on its website on Tuesday.

A source close to the government told the paper that the primary goal was to have a healthy and successful Croatian company, regardless of who manages it.

The ’paper reported that Croatian Prime Minister Zoran Milanović is seeking a compromise with MOL regardless of the opposition from coalition partner the Croatian People’s Party (HNS).

MOL holds a little less than 50% of INA’s shares. The state of Croatia owns about 45%. A perceived lack of investment in the company by MOL and the state’s failure to take over INA’s loss-making gas business, as stipulated in a shareholders agreement, have been sources of tension between the two stakeholders.

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