MOL sells minority stake in Energopetrol to INA
Hungarian oil and gas company MOL signed an agreement with INA, the Croatian oil and gas company in which MOL holds a 49.1% ownership stake, to sell a 33.5% equity stake in Energopetrol, MOL announced today, according to Hungarian news agency MTI.
In a statement published on the Budapest Stock Exchange, MOL said that, following the completion of the transaction, INA will hold a 67% ownership stake in Energopetrol.
The rest of Energopetrol will be held by the government of Bosnia-Herzegovina with an ownership stake of 22.1%, while a further 10.9% is publicly traded on the Sarajevo Stock Exchange.
Energopetrol is among the top fuel retailers in Bosnia-Herzegovina, and it owns and operates more than 60 retail stations and conducts wholesale activities across the country, MOL said.
MOL said it expects further operational and organizational synergies following the completion of the deal, as INA is a major player in the wholesale and retail motor fuel markets of Bosnia-Herzegovina.
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