Posted on 11/10/08
Hungary's MOL boosts stake in Croatia's INA
Hungarian oil and gas giant MOL Group has obtained a 22.15-per-cent stake in Croatian oil group Industrija Nafte (INA), increasing its holding to 47.15 per cent, the central depository agency said yesterday. The Hungarian company already owned 25 per cent of INA, and is now its biggest shareholder, with the Croatian government still owning 44.8 per cent. The Croatian government must reduce its stake in INA to less than 25 per cent before it enters the European Union, which is planned for 2011. MOL (Budapest) fell 1005 to 11500 Hungarian Forints ($69.99); INARA (Croatia) fell 33.72 to 2067.46 Croatia kunas ($457.27).
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