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INA AND MOL SUBMIT LETTER OF INTENT TO BUY BOSNIA'S ENERGOPETROL

ZAGREB, Nov 26 (Hina) - Croatian oil company INA and its strategicpartner, Hungarian oil company MOL, submitted a non-binding letter ofintent to the Bosnian government on Friday for investing in the oilcompany Energopetrol.
ZAGREB, Nov 26 (Hina) - Croatian oil company INA and its strategic partner, Hungarian oil company MOL, submitted a non-binding letter of intent to the Bosnian government on Friday for investing in the oil company Energopetrol.

INA and MOL said in a statement that at the first stage the two companies would gather all relevant information on possible investment in the Sarajevo-based company.

The chairman of the INA Board of Directors, Tomislav Dragicevic, said that INA's decision to compete in the tender together with MOL, which owns a 25 per cent stake in the Croatian company, was "solely the result of a business assessment".

Energopetrol is in 67 per cent ownership of the state.

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