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Hungarian oil group MOL Nyrt will make an offer to buy the 800,910 outstanding shares in Croatian peer INA for 2.24 billion Croatian kuna ($401 million), or 2,800 kuna a share, the company said in an online statement posted on the website of the Budapest Stock Exchange.
INA’s single largest shareholder with a 47.2% stake, MOL jointly owns with the Croatian government 91.99% of the Croatian oil company. In 2008, MOL already made an offer to purchase the outstanding shares of INA, held by INA employees and individuals who purchased the stock at the time of the company's initial public offering.