Unknown Serbian group offers $2.35 billion to buy stake in Russian oil company NIS

A newly formed Serbian firm has bid 2 billion euros (2,35?billion dollars) for the combined 56.1% share of NIS, Serbia's lone oil refinery. According to Ranko Mimovic, the Russian owners have "generally" accepted this offer.

The KFT Senator Treasury G.T.7 Two LLC bid, which was launched last summer, is a challenge for Hungary's MOL. MOL is trying to purchase a majority stake of NIS which has been under U.S. sanction since October last.

As part of broader measures aimed at Russia's energy industry over the war in Ukraine, the Office of Foreign Assets Control of U.S. Treasury imposed sanctions against NIS. It demanded that the shares of NIS owned by Gazprom and Gazprom - its Russian majority owners - be divested.

Gazprom, NIS and Gazprom did not immediately respond to emails from?.

Senator stated that it initiated proceedings with OFAC on 30 October to obtain a license to acquire a majority stake of NIS. It informed Gazprom about its plans on 4 November. The website of OFAC shows that the request is pending "management review".

Gazprom owns a?11.3% stake, while Gazprom neft has a 44.9% stake. The Serbian Government owns 29,9% of NIS, while the rest is owned by employees and small shareholders.

MOL and Gazprom signed a deal on January 19, to purchase the combined Gazprom - Neft and Gazprom stakes in NIS. OFAC gave Russian companies until 22 May to complete the deal. Serbia also wants to raise its stake by a further 5%.

Mimovic said that he also informed the office Aleksandar Vucic, Serbia's president Aleksandar Vucic of his plans on April 21,. Vucic's Office did not respond to a request from for comment. Vucic stated on 26 January that MOL is willing to pay 1 billion Euros for the majority stake in NIS.

(source: Reuters)