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Mol May Offer Treasury Shares for INA Stock, Bloomberg cites Napi

Hungarian oil refiner Mol Nyrt. may offer company shares in exchange for shares in Croatian subsidiary INA Industrija Nafte, Bloomberg cites Hungarian economy daily Napi Gazdaság's interview with MOL Chief Executive Officer József Molnár.

Treasury shares owned by Mol or kept at various banks “could play a role in solving the INA situation,” which at present resembles “a war zone,” Molnár said in an interview published on Wednesday.

Mol has financial resources for “a really large” acquisition of more than $1 billion and may use its own shares in such a transaction, Molnar said, according to Napi. Mol is “checking out” regional acquisition possibilities, including Polish Lotos, while keeping the main focus on organic development, Molnár told the newspaper.

The Budapest-based company may “in the future” return to its dividend policy agreed earlier, Molnár said, Napi reported. Mol last paid a dividend in 2008.