12:49 / 30.12.2021.

Author: Domagoj Ferenčić

Government puts a hold on bid to buy back INA

INA building in Zagreb

INA building in Zagreb

Foto: Igor Kralj / PIXSELL

Former Croatian Prime Minister Ivo Sanader has been sentenced to six years in prison for receiving a bribe from MOL CEO Zsolt Hernadi in return for handing the Hungarian oil company a controlling interest in the Croatian-based INA Oil and Gas Company.

Speaking at Thursday's cabinet session, Prime Minister Andrej Plenković announced that government has decided to put on hold its plans to buy back a controlling interest in the INA Oil and Gas Company. The prime minister said that the decision was made in light of new legal circumstances that arose after a ruling from the Supreme Court, and that government had initiated a revision of INA's Shareholders Agreement and the Contract on Gas Business, as it feels that, given the Supreme Court's ruling, neither contract is valid. He added that the decision was well-founded and based on the opinion of legal experts, and that government has already consulted with the State Prosecutor's Office, the Department for International Law at Zagreb University and with the legal team representing Croatia in the ongoing case against MOL.

At the end of October the Supreme Court confirmed the first instance ruling in which former Prime Minister Ivo Sanader was found guilty of receiving a ten million Euros bribe from the CEO of the Hungarian Oil Group MOL, Zsolt Hernadi, in return for the Croatian Government approving the First Amendment to the Shareholders Agreement and thus MOL securing management rights.

In December of 2016, at the beginning of his first mandate as prime minister, Plenković announced that Croatia would buy back a controlling interest in INA. However, little progress has been made to that end over the past five years.

Source: HRT

Vijesti HRT-a pratite na svojim pametnim telefonima i tabletima putem aplikacija za iOS i Android. Pratite nas i na društvenim mrežama Facebook, Twitter, Instagram i YouTube!