Russian investors to talk INA transaction after Olympics

Russian investors want to start talks with the Croatian government on the acquisition of Hungarian oil-and-gas company MOL’s stake in Croatia-based peer INA after the Winter Olympics wind up in Sochi, Croatian daily Jutarnji List reported today.

The Russian investors could arrive as soon as the end of February, according to the ‘paper.
The paper said late in January that Russian oil and gas companies were eyeing MOL’s stake in INA, citing Russian deputy prime minister Arkady Dvorkovich.

MOL holds just a fraction less than a controlling stake in INA, while the Croatian government owns almost 45%. The two shareholders have long been at odds over the way the company is managed, and tensions rose last October, after Croatian police issued an arrest warrant for MOL chairman/CEO Zsolt Hernadi on suspicion of having bribed former Croatian Prime Minister Ivo Sanader to give MOL management rights in INA.

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