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Energopetrol signs takeover deal with INA, Mol

The Bosnian government signed an agreement allowing Hungary's Mol Nyrt and Croatia's Ina-Industrija Nafte d.d. to buy state fuel trader Energopetrol, Bloomberg reported citing Bosnian newspaper Vjesnik.

Mol and Ina will pay 10.2 million Bosnian marks ($6.67 million) for 67% in Energopetrol and spend 60.2 million ($40 million) Bosnian marks paying its debt, Vjesnik reported. The two companies will also invest 150 million Bosnian marks ($100 million) on developments at Energopetrol in the next three years, 4.5 million of which will be used for severance payments, the newspaper said.
The Bosnian government will keep a 22% stake in the company, and 11% will belong to small shareholders, Vjesnik said. The deal must be approved by Energopetrol's shareholders at the annual general meeting August 31.