Hungary's oil and gas group MOL is trying to increase its interest of 47.2% in Croatia's INA to 50% plus one share through a deal on settling INA's debt to the Croatian state, the Hungarian HVG weekly reported on Thursday.
MOL would take state bonds in return for settling a debt of HRK 1.8 billion,and it would later transform those bonds into equity in INA, according to theweekly.
"MOL would gain absolute majority in INA by receiving corporate bondsfrom the state in exchange for settling a cc. HRK 1.8 billion debt and it wouldconvert the bonds into capital stock later," the Portfolio.hu. portalquoted the weekly as reporting.
In addition, Russia's Gazprom is investigating possibilities for investingin Croatia.
"Russia"s gas export monopoly Gazprom has interest in INA andwould get a stake in it at the expense of MOL," the portal said.
