MOL receives OFAC licence for preparatory NIS acquisition transactions
Key highlights
- OFAC granted MOL and MOL Serbia Investment Kft. an additional licence linked to a potential acquisition of an ownership interest in NIS a.d. Novi Sad.
- The licence authorises transactions necessary to transfer Russian‑issued securities to MOL Serbia Investment Kft. and related activities.
- It includes authorisation to obtain certain required Russian governmental approvals.
- The licence is valid until 28 February 2027 and does not permit completion of any transaction that would divest Russian ownership and control in NIS without separate OFAC authorisation.
Licence granted
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has granted MOL and MOL Serbia Investment Kft. an additional licence in connection with the potential acquisition of an ownership interest in NIS a.d. Novi Sad (NIS).
Permitted actions
The licence authorises certain transactions necessary for the transfer to MOL Serbia Investment Kft. of Russian‑issued securities and related activities, including the obtaining of certain required Russian governmental approvals.
Validity and limitations
The licence is valid until 28 February 2027. The licence does not authorise the completion of the transaction resulting in the divestment of Russian ownership and control in NIS; any such completion would require separate authorisation from OFAC.
Source: MOL Group