ZAGREB, Sept 2 (Hina) - The Austrian company OMV, one of the strategic partners in the privatisation of INA, entered the Croatian oil giant's data room on Monday for a week-long due diligence of INA's operations, the Office for the
Coordination of INA's Privatisation stated on Monday.
ZAGREB, Sept 2 (Hina) - The Austrian company OMV, one of the
strategic partners in the privatisation of INA, entered the
Croatian oil giant's data room on Monday for a week-long due
diligence of INA's operations, the Office for the Coordination of
INA's Privatisation stated on Monday. #L#
Over the past two weeks, the due diligence was conducted by the
Russian company Rosneft and Hungary's MOL. Following OMV, the
process will be conducted by Russia's Lukoil and Italy's Edison
Gas.
Each of the five strategic partners which have been shortlisted for
the purchase of 25 percent plus one share in INA have one week at
their disposal in the data room to review the company's financial
and legal operations, visit the oil fields, refineries and sales
outposts, and meet the company's experts.
The INA management board will meet the leaders of the five companies
separately. Both sides will present their companies, with emphasis
on each company's strategy, and models of joint cooperation.
Following these meetings, binding offers will be put forward, by
year's end at the latest, with the amount potential partners are
willing to offer for 25 percent plus one INA share.
(hina) ha sb