Serbia negotiates NIS takeover with MOL

Serbia intends to submit its final position on the possible acquisition of a majority stake in Naftna Industrija Srbije (NIS) to the Hungarian energy group MOL. A response from the Hungarian company is expected at the beginning of next week, explained Energy Minister Dubravka Dedovic Handanovic. The MOL Board of Directors is to decide on the proposal on May 18. Prior to this, several days of intensive talks had taken place, during which both sides came closer together, but key points of contention remained unresolved. "We have reached agreement on some points, but important issues remain unresolved - in particular the future operation of the refinery in Pančevo and securing supplies to the Serbian market," Dedovic Handanovic told the Tanjug news agency. Pančevo refinery remains a point of contention The refinery in Pančevo covers the majority of Serbia's fuel requirements and is considered a central point of contention in the negotiations. Belgrade is demanding guarantees for the processing capacities and for the security of supply of the domestic market. MOL is currently in exclusive talks to acquire 56.15 percent of NIS shares from the Russian group Gazprom Neft and another company affiliated with Gazprom. The Russian owners are under pressure to sell their stakes due to US sanctions dating back to 2025. According to the Office of Foreign Assets Control, the transaction must be completed by May 22. This leaves little time for a final agreement. New interested parties bring movement to the talks The negotiations recently stalled after Serbia rejected a revised offer from MOL on May 13. According to the government, the proposal did not guarantee sufficient supply to the domestic market from the refinery in Pančevo. At the same time, new potential buyers have emerged. Serbian entrepreneur Bogoljub Karic stated that a consortium called Tesla Energy was ready to submit an "irresistible" offer for NIS. The aim is to keep ownership and profits in the country. Businessman Ranko Mimovic had previously claimed to have prepared an offer worth two billion euros. According to him, this is supported by Russian interest groups and has also received positive signals from the USA. Experts doubt alternative bids However, analysts expressed doubts about the credibility of such bids. When taking over a strategically important energy company, financial transparency, regulatory stability and operational experience are crucial. Former MOL manager Atila Holoda explained that it was not just about the purchase price, but also about the ability to ensure "stable, politically acceptable and professional management" of the company. Although President Aleksandar Vucic welcomed the appearance of new interested parties, he made it clear that talks with MOL were still a priority. An agreement is possible if a solution can be found for the operation of the refinery. However, the final outcome depends largely on the Russian owners of NIS and their willingness to sell. The Serbian state itself only holds 29 percent of the company shares. The post Serbia negotiates NIS takeover with MOL appeared first on ostwirtschaft.de.