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MOL Croatian unit sells small petrol station company

INA, the Croatian unit of Hungarian oil and gas company MOL, said it agree to sell its small fuel retailer, Crobenz, to Slovakia-based oil trader Progress Trading.

The price of the transaction, which must still be approved by Croatia's competition authority, was not revealed.

Crobenz owns 14 petrol stations in Croatia.

The sale was a condition for approval of MOL's boosting of its stake in INA to 47% in 2009. MOL also owns a small Croatian fuel retailer.

The state of Croatia owns 44% of INA. (MTI – Econews)