Politics and finance complicate INA buy-out

By Dariusz Kalan 15 March 2017
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An INA refinery at Rijeka, Croatia. The state holds a 45% stake in the company. (INA) An INA refinery at Rijeka, Croatia. The state holds a 45% stake in the company. (INA)

Zagreb’s desire to buy out Hungary’s share in Croatian oil and gas player INA is driven by political as well as commercial interests, industry sources have said.

After years of quarrelling with Hungarian player MOL, which has a 49% stake in INA, Croatia’s Prime Minister Andrej Plenkovic said in December his country would buy it out. Croatia currently holds a 45% stake.

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