October 14 (SeeNews) - Croatian energy company INA [ZSE:INA] said it has signed a merger agreement with its wholly-owned subsidiary INA Jadran.
Under the deal, INA Jadran will merge into INA, the latter said in a filing with the Zagreb Stock Exchange on Friday.
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The agreement, which was signed on October 10, was submitted to the register of Zagreb's commercial court.
INA also said that since it is the only owner of INA Jadran, the merger does not need the approval of its shareholders' assembly.
INA Jadran is the successor of INAgip, a joint venture of INA and Italy's Eni created 1996 for natural gas production in the northern Adriatic. Eni exited the joint project in 2018, following which the company was renamed into INA Jadran.
INA's shares closed flat at 3,140 kuna ($466/423 euro) on the Zagreb Stock Exchange on Friday. They did not trade at Monday's opening.
(1 euro = 7.42802 kuna)
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