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Surgut after MOL ownership stake in INA

Enigmatic Russian energy firm Surgutneftegaz is reported to be willing to pass on its ownership stake in Hungarian energy major MOL if it is willing to transfer its control of Croatian peer INA, the daily Világgazdaság reported citing an article in German paper Handelsblatt.

If the reports prove accurate, MOL is facing a difficult situation. When it became a majority owner of the Croatian company it signed a five-year sale moratorium with the country’s government, which could be reduced to two years if no share swapping takes place between the two companies.

The Hungarian side seems to turn out the eventual loser either way, as on the one hand it could lose its valuable Croatian asset and on the other it faces the Russian side, which it deems hostile, acquiring four-fifths of its shares. (Gazdasági Rádió)