Here is what top MOL executive said about acquisition of NIS: Negotiations on 3 levels!

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MOL Group Chief Strategic Officer Gyorgy Bacsa says that negotiations on the acquisition of the Russian stake in NIS (Petroleum Industry of Serbia) are still ongoing and that MOL Group is interested in reaching a good agreement.

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Gyorgy Bacsa said this at a panel dedicated to energy issues at the Business Summit in Belgrade, adding that several teams are negotiating on multiple levels regarding the acquisition and sale of a majority stake in NIS.

Bacsa explained that negotiations are taking place at three levels: with the seller, with the Government of Serbia, and with external regulators from the US and the EU.

He stated that the challenge is to comply with the sanctions imposed by external regulators (OFAC), but added that the negotiations will continue and progress. When asked about the "percentage" of the deal that has been agreed upon, Bacsa did not wish to specify, but said that all regulatory requirements must be respected.

Bacsa added that, given that the extension of the license granted by OFAC expires in seven days, the US practice has shown that, if there is progress in the negotiations, the deadline can be expected to be extended.

(Telegraf Biznis/RTS)