MOL to cough up Ft 300 billion for INA public purchase

Deals

A buyout offer by Hungarian oil and gas company MOL for Croatian peer INA could cost it Ft 296 billion, Econews calculated based on analysts' estimates of the anticipated offer price.

MOL, which holds 25% of INA shares, has asked Croatia's financial regulator for permission to make a public purchase offer for the shares.

Analysts quoted in the Hungarian and Croatian press say MOL is likely to ask between HRK 2,600 and HRK 3,300 for the shares.

Econews calculated that acquiring the 31%, or 3,015,081, of INA shares in free float would cost MOL Ft 296 billion if the offer price is around HRK 3,000 per share.

MOL had capital reserves of Ft 786.9 billion, its balance sheet from June 30, 2008 shows.

MOL, however, is not the only one interested in the share packet. Other parties thought to be eyeing the stake are Austria's OMV and Russia's Lukoil.

Croatian war veterans and INA employees hold a 14% stake in INA, and 17% of the shares are listed on bourses in Zagreb and London.

The state holds the remaining 44% of INA shares and has had talks with MOL on their sale, which could involve a share swap. (MTI – Econews)

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.