Croatia plan to acquire 25% share in INA stumbles

The reshuffled government failed to agree on the plan the state to acquire the stake of Hungary’s oil and gas company MOL in its local peer INA as the new coalition partner HNS is against HDZ’s proposal for acquisition via an initial public offering (IPO), local media reported. The minister of state property Goran Maric avoided direct answer on whether the government will drop the plan for INA’s stake acquisition, adding that the company value remains to be assessed as a first step. Recall that the initial plan of PM Andrej Plenkovic was the state to privatize 25% of INA in an IPO. The HNS instead proposed a model, according to which the acquired by the state INA assets should be re-established as new company in order to avoid the increase of public debt. The hesitation within the government puts the INA’s privatization under question, according to Novi List sources.

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