Dragicevic, Hernadi under investigation over Energopetrol privatisation

Former management board chairmen Tomislav Dragicevic of Croatia's INA oil company and Zsolt Hernadi of Hungary's MOL are under investigation by Sarajevo's cantonal prosecution over the privatisation of Bosnia's Energopetrol oil company, prosecution spokeswoman Azra Bavcic said on Thursday.

"Dragicevic and Hernadi have the status of suspects in this case," she told Hina, adding that another Hungarian is also under suspicion.

A group of former Energopetrol shareholders pressed charges against 15 persons in 2010, accusing them of unlawfully securing the money to service some obligations under a 2006 recapitalisation agreement by taking a loan against the company's assets.

Under the agreement, the INA-MOL consortium should have invested EUR 76 million in Energopetrol in three years. Instead, the consortium mortgaged Energopetrol's assets and took out a EUR 28 million loan as well as a second one in 2010 in the amount of EUR 48.5 million.

The charges were pressed against members of Energopetrol's management and supervisory boards appointed after the consortium assumed ownership, but not against Dragicevic and Hernadi. The consortium has a 67% interest in the Bosnian company.

Eight Bosnian citizens are already on trial for Energopetrol's contentious privatisation at Sarajevo's Municipal Court for signing a harmful contract and negligence.

Last update: Thu, 01/09/2016 - 12:02
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