MOL Plc. has signed an agreement to acquire a 56.15% stake in Serbia's NIS, enhancing its presence in the regional energy market.

Target Company Overview

MOL Plc. has announced a binding Heads of Agreement with Gazprom Neft to acquire a 56.15% ownership stake in Naftna Industrija Srbije (NIS), the sole refinery operator in Serbia. This acquisition will grant MOL significant shareholder rights and control over NIS, enhancing its footprint in the Central and Southeastern European energy market. NIS operates the Pancevo refinery and boasts an extensive retail network along with an exploration and production portfolio.

Upon the completion of the acquisition, which is contingent upon meeting specific regulatory conditions, MOL aims to ensure a stable operation at the Pancevo refinery and bolster the supply of energy within the region. The refinery itself has been integral to Serbia's energy infrastructure since it began operations in 1968, showcasing a long and robust history in the country’s oil sector.

Industry Overview in Serbia

The Serbian energy sector has been experiencing a transformative phase, with increasing investments in upgrading infrastructure and modernizing facilities. The Pancevo refinery, with a capacity of nearly 4.8 million tonnes per year, primarily produ