Croatia's INA boosts stake in Bosnia's Energopetrol

Croatia's INA boosts stake in Bosnia's Energopetrol Author: INA. License: All rights reserved.

SARAJEVO (Bosnia and Herzegovina), February 12 (SeeNews) – Croatian oil and gas company INA [ZSE:INA] has boosted its stake in Bosnian fuel retailer Energopetrol [SAJ:ENPSR] from 67% to 88.7%, data from the securities registry of Bosnia's Federation entity shows.

According to the registry, the government of the Federation, which previously held a 22.1% stake in Energopetrol, controls 7.6% as of February 11.

Other minority shareholders of Energopetrol  have also slightly cut their stakes, the registry reveals.

INA officials were not immediately available to comment on the transaction.

Last week, Energopetrol increased its capital by 131 million marka ($82 million/67 million euro) via the public sale of a share issue. Energopetrol said in a Sarajevo bourse filing it has issued 10,480,000 ordinary shares at 12.50 marka apiece. Following the capital hike, the company's total share capital stands at 199.7 million marka.

The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.

The Federation government said last week it has approved the privatisation agency's business plan for 2018 which foresees the sale of government equity in four major companies, including Energopetrol.

(1 euro = 1.95583 Bosnian marka)

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