Consortium MOL/INA signed contract with the Government of FBiH for Energopetrol's recapitalization

Following today's signing of contract between the Government of Federation of Bosnia and Herzegovina and INA/MOL's consortium for Energopetrol's recapitalisation tender, which was officially announced in the Government's statement today.

Following today's signing of contract between the Government of Federation of Bosnia and Herzegovina and INA/MOL's consortium for Energopetrol's recapitalisation tender, which was officially announced in the Government's statement today, consortium INA/MOL has issued the following joint statement:

"We welcome the decision of the Government of Federation of Bosnia and Herzegovina to proceed with the signing of contract for recapitalisation of Energopetrol and to entrust us with the future of Energopetrol," said Tomislav Dragicevic, President of INA. "Once again our offer has been recognised as the best one."

"Energopetrol needs the strength, resources and know-how of the Consortium to make it into a modern, highly competitive and customer-oriented company," said Zsolt Hernádi, Chairman-CEO of MOL Group. "We are here to do business and the people of Bosnia & Herzegovina will feel the benefit."

"I have signed numerous contracts in my career, but this one outstands from all of them by attracting huge interest of media. In the present situation, there were many possible solutions that could have been applies to Energopetrol, but by choosing this, we have made the best choice. During the negotiations we have achieved far more then it was predefined by the tender documents. Hereby, I would like to thank the representatives of the Consortium Mol-Ina for their determination and patience for our concerns. These concerns will become common in the future, and the Federal Government se will be at service of Mol-Ina, in order to ensure successful dealings of Energopetrol.", said Prime Minister of Federation BiH, Ahmet Hadzipasic after signing the Contract.

"The act of Energopetrol's recapitalisation which became official today guarantees the revitalisation of Energopetrol, and at this point I would like to express my gratitude to all who have been persistent in helping Energopetrol to preserve its market position.", said Namik Busatlic, Director of Energopetrol.

MOL-INA will invest 150 million BAM into EP. The consortium will provide additional 60 million BAM to pay off EP's debts, keep all 1,059 employees. The government will receive 10 million BAM. The consortium will hold 67% of EP's capital. The Federation government will keep 22%, and small shareholders will hold the rest of shares. The recapitalization includes 65 gas stations and two office buildings in Sarajevo.