September 27 (SeeNews) - Russian companies are eyeing Croatia's INA [ZSE:INA] but it is up to Hungary and Croatia to decide on a strategic partner in the oil and gas company, local media reported on Thursday.
"As far as INA is concerned, Russian companies are watching that company with interest but a lot of things do not depend on us, because Hungary and Croatia have to decide who the strategic partner in INA will be. If that opportunity is offered to Russia, we will consider it," Hina news agency quoted Russia's ambassador to Croatia, Anvar Azimov, as telling the media in Split.
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In June, INA said it was setting up a data room for due diligence purposes and possible transactions related to its shareholding structure.
The move was approved by the company's management board at the request of the Croatian government which owns 44.84% of INA's share capital, INA said at the time.
Also in June, Croatian media reported that U.S.-headquartered Castleton Commodities International (CCI) has sent a letter to the government in Zagreb, expressing its interest in becoming a strategic partner of INA.
Croatia's government said in April it has selected a consortium of Morgan Stanley, Intesa Sanpaolo Group and Privredna Banka Zagreb [ZSE:PBZ] to advise it on the possible purchase of MOL's stake in INA.
In 2017, Russia's state-owned oil giant Rosneft said it is interested in acquiring a stake in INA. The company's intention was met with criticism from the U.S., whose ambassador to Croatia, Robert Kohorst, told Hina that Russia is a disturbing factor in the region.
On Christmas Eve 2016, Croatia's prime minister Andrej Plenkovic announced the government's decision to buy MOL's stake in INA.
MOL is the biggest shareholder in INA with a 49.08% stake.