MOL to Buy Russian Stake in Serbian NIS

Moscow21 Oct. News. Hungarian MOL Group signed an agreement with the Russian side to purchase its share in the company

Consensus

MOL signed an agreement to purchase the Russian stake in Serbia's NIS.
The Russian stake in NIS is 56.15%.
The deal requires approval from antitrust authorities in Serbia and Bosnia and Hercegovina.
Serbia plans to increase its ownership in NIS from approximately 30% to 35%. The agreement was signed by Serbia and MOL.
The transaction is linked to U.S. sanctions imposed on NIS in January 2025.
The U.S. Treasury has extended the license for NIS to conduct negotiations until October 30.
The deal is expected to be finalized shortly after antitrust approvals are granted.
NIS operates Serbia's only oil refinery in Pančevo and a network of over 400 fuel stations across the Balkans.

The former head of MOL Upstream stated that Russian influence on NIS may persist after the sale through contracts, financing, and commercial ties, even if ownership changes, but emphasized that MOL would not pursue arrangements that restore Russian control. — tg_theinsider
MOL denied that any significant changes occurred in the negotiations and stated that it would notify the market if new material information emerged. — vedomosti
The preliminary agreement was signed on January 19, with an initial target to close the deal by the end of March. — fontanka
The deal is closing just days before Serbia's early parliamentary elections on October 25, and the minister involved is a member of the ruling Serbian Progressive Party led by former president Vucic. — thebell
The Russian side holds one share in NIS directly, and the remaining 56.15% is held by Gazprom Neft and Intelligens, which is managed by Gazprom Capital. — interfax