Businessman Mimovic Insists His USD2.35 BN Bid for a Majority Stake in Oil Company NIS Is Fair

Oil and gas company NIS (BETAPHOTO/EMIL VAS)

Ranko Mimovic, the owner of company KFT Senator Treasury G.T.7 Dva DOO, told BETA on May 12 that he has offered a fair amount for the acquisition of Russian company Gazprom Neft’s majority stake in oil and gas company Naftna Industrija Srbije  (NIS). 

“I respect the procedure and at this moment, and until the negotiations are over between Gazprom Neft and Hungary’s MOL on May 22, I cannot reveal anything more, except that my offer for NIS is not hostile, but friendly and fair,” Mimovic said.

He stressed that his intentions are honest and that he would not close the NIS Refinery in Pancevo, but would rather upgrade it and also develop other products. 

Mimovic further said that he has fulfilled the requirements of the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, and is now awaiting confirmation from the Office top management, adding that the necessary documentation has also been submitted to the majority owner in NIS, the Russian company Gazprom Neft.

Mimovic also said that USD2.35 billion, he has offered for the Russian majority stake in NIS, he has secured based on his own capital in banks, and also his good contacts with funds and banks. Securing financial resources for this potential transaction, according to him, was a prerequisite for submitting the bid, or otherwise OFAC would have rejected it immediately.

He dismissed speculations in some media that he has links with the ruling Serbian Progressive Party, stressing that he has never personally met Serbian President Aleksandar Vucic and that he is currently not engaged in politics.

Commenting on remarks in some media that he is not qualified to run NIS, Mimovic said that he had assembled the most professional team in Southeast Europe that would lead NIS in case of acquisition, noting that the current company management is also good.