“Croatia’s government has chosen a consortium led by US investment firm Morgan Stanley to advise it in the process of buying back the 49 percent stake Hungary’s MOL owns in Croatia’s INA oil company, said Prime Minister Andrej Plenković at a cabinet session on Tuesday.

Croatia’s government, which owns 45% of INA, has been at odds with MOL for years over the way it runs INA. Prime Minister Plenković announced in late 2016 the Croatia would try to buy back MOL’s stake in the company. Hungary has also signaled it is prepared to discuss the sale. The key task of the consultants will be to determine the value of the stake.

‘We had 22 consultants that expressed interest. After a detailed analysis of the offers and talks with all of the candidates, the recommendation is to choose, as the best offer under a set of specific criteria, the one submitted by the international consortium comprising Morgan Stanley, Intesa Sanpaolo and Privredna Banka Zagreb,’ said Plenković.” (Voice of Croatia)