June 21 (SeeNews) - The Croatian government is considering several options for the repurchase of a stake in oil and gas company INA [ZSE:INA-R-A] from Hungarian energy group MOL, Zagreb-based media reported.
Relevant government groups are analysing the buyback procedure in an attempt to find the best possible model, months after Croatia's prime minister Andrej Plenkovic said the country will regain full ownership of the company, news agency Hina reported on Tuesday.
The government is expected to hire the best possible international consultants to "help in the important process of appraising the company", Hina quoted Plenkovic as saying.
Last month, MOL said it was ready to sell back its stake in INA to the Croatian government.
"We are ready to sell INA if the Croatian government wants to buy it. If it isn't interested or is unable to carry out the purchase, we are willing to continue our cooperation with them",Hina quoted Sandor Csanyi, deputy board chairman of MOL, as saying at the time.
MOL is the biggest shareholder in INA with a 49.08% stake. The Croatian government owns 44.84%, with the remaining 6.08% held by institutional and private investors.
In December last year, the United Nations Commission on International Trade Law dismissed Croatia's claims of bribery and alleged breaches of a shareholders agreement for INA by MOL. The lawsuit was filed by Croatia in 2014 with the aim to cancel a 2009 deal which saw MOL gain managerial rights in INA without owning a majority stake.