BELGRADE – An agreement has been signed for Hungary’s MOL to acquire the majority stake held by Russian shareholders in Serbia’s oil company NIS, caretaker Finance Minister Siniša Mali said. Completion of the transaction remains subject to approval from the competition authorities in Serbia and Bosnia and Herzegovina.
In an interview with Bloomberg Adria TV, Mali said a written agreement had also been reached with the Hungarian side for Serbia to increase its stake in NIS from 30% to 35%, N1 reported.
He explained that negotiations between the current Russian owners and Hungary’s MOL had been successfully concluded and that the Serbian government had agreed on a separate shareholders’ agreement with the prospective majority owner.
“The Russian side, which holds the majority stake, and Hungary’s MOL have reached an agreement. The contract has been signed. We, as the state, have also concluded a shareholders’ agreement with the Hungarian side. What remains is to obtain approval from the relevant competition authorities,” Mali said.
Once the necessary regulatory approvals have been obtained, the transaction will formally close, completing the change in the ownership structure of Serbia’s largest oil company, Mali said.
