The transaction for the sale of 100 percent ownership of Crobenz to Lukoil was completed on September 30, announced Ina today on the Zagreb Stock Exchange.
Ina signed a purchase agreement with Lukoil Croatia on July 21 of this year for the sale of 100 percent ownership in Crobenz. At the end of July, the Competition Protection Agency made a decision granting consent for the transaction and issued the necessary approval for the concentration of Lukoil and Crobenz. The Agency accepted the opinion of the commissioner who led the purchase that Lukoil Croatia is a buyer that meets the conditions from the Agency’s decision of June 9, 2009, which considers the concentration between MOL and Ina permissible under the condition of the sale of Crobenz.
Namely, after signing the first amendment to the Shareholders’ Agreement between the Government and MOL on January 30, 2009, the Competition Protection Agency reviewed the acquisition of operational control over Ina by MOL and issued a decision approving the transaction under certain conditions, including the sale of 100 percent of Ina’s shares in Crobenz. Crobenz has 14 gas stations in nine counties. Before purchasing Crobenz, Lukoil acquired the company Europa mill in Croatia, which then had nine gas stations in Zagreb and Split. (H)
