May 25 (SeeNews) - Serbia's energy minister Aleksandar Antic said Russia's Gazprom Neft has expressed interest in the acquisition of state-run petrochemicals producer HIP Petrohemija.
The government plans to accelerate the talks with Gazprom Neft on the sale of HIP Petrohemija as it needs a strategic investor in the company, Antic said in a video file posted on the website of news agency Tanjug on Thursday.
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HIP Petrohemija needs an investment in the polypropylene production line in order to ensure that its business remains stable regardless of the fluctuations of the price of crude oil on the global markets, Antic said.
Last year, Russian media reported that Gazprom Neft plans to acquire the entire capital of HIP Petrohemija, as the company is the main partner of local subsidiary NIS [BEL:NIIS].
Gazprom Neft controls a 56.15% stake in the capital of NIS, a supplier of raw materials to HIP Petrohemija. NIS, in turn, owns a 12.72% stake in the capital of HIP Petrohemija, according to data from the teaser prospectus of the petrochemical group posted on the website of Serbia's privatisation agency.