MOL said talks to acquire a controlling stake in Serbia’s NIS are still active, rejecting reports that discussions with the company’s Russian shareholders have collapsed. The update follows a new authorisation from the US Treasury’s Office of Foreign Assets Control that allows the Hungarian group to keep negotiating. The authorisation extends the talks until October 30.
A completed transaction would still require approval from OFAC and clearance from other relevant regulators. MOL said the negotiations remain ongoing despite the sanctions environment affecting NIS.
Shareholder agreement framework for potential ownership transition
Serbia’s government and MOL signed a shareholder agreement in June describing how NIS would be governed if the acquisition proceeds. The framework is intended to maintain operations during an ownership transition. It also aims to protect domestic fuel supply and preserve the functioning of the Pančevo refinery.
The parties’ discussions remain linked to the fact that Russian companies continue to control NIS. MOL said this keeps the ownership process closely tied to sanctions affecting the business.
Extension of talks does not complete sale
The extension provides additional time for negotiations but does not settle the sale. MOL indicated that decisive steps still depend on agreement on the transaction and regulatory approval sufficient to secure continued refinery and fuel-supply operations.
