Energopetrol may invite new privatization tender
Tuesday, August 9, 2005, 12:54
According to Croatian press information, the Bosnian government will nullify the current tender on the privatization of oil company Energopetrol and plans to invite a new tender at the end of August, news portal origo.hu reported. The Mol-INA consortium was the only bidder invited in the first round but negotiations failed. In mid-July Mol Rt announced that the Bosnian government?s request to shift 30 million Bosnian marks from development to debt service is unacceptable. Mol aims to make Energopetrol the best fuel distributor in the region, which requires substantial investments, said communication head Sándor Kántor. Unofficial sources leaked that the potential buyer will have to take over the Energopetrol?s debt of BAM 92 million, or Euro 47 million. With its 65 filling stations, Energopetrol has a 15% share on the Bosnian market. The Mol-INA group has offered to spend BAM 150 million on development during the next three years and take over the 1060 staff beside the Euro 5.1 million purchase price for the 67 % stake, and pledged BAM 60 million for debt service. No comment from Mol has arrived so far.