The contract was initialled by the prime minister of Bosnia and Herzegovina's Croat-Muslim Federation, Ahmet Hadzipasic, Energopetrol director Namik Busatlic, Zoltan Varagy on behalf of the Hungarian company MOL and Mladen Prostenik and Slobodan Lupret on behalf of Croatia's INA.
Under the contract, INA and MOL will recapitalise Energopetrol with about 30.8 million euros, which will be used to service Energopetrol's debts.
INA-MOL will pay EUR5.2 million for a 67 per cent share in the Sarajevo company, which until now was state-owned. INA and MOL will each have 50 per cent of the new stock.
The Croat-Muslim entity's government will retain its 22 per cent share in Energopetrol, while small shareholders will retain 11 per cent.
Under the sale contract, the consortium will invest over the next three years EUR76.7 million in Energopetrol's development and EUR2.25 million to provide for the company's 1,059 employees.
The contract will be signed and go into force after a shareholders' assembly meeting scheduled for August 31.