INA-Industrija nafte, d.d. is a Croatian multinational oil company headquartered in Zagreb. INA Group has a leading role in Croatia's oil business, including oil and gas exploration, production, processing and distribution. INA is a stock company whose main shareholders are the Hungarian MOL Group (49%) and the Croatian Government (45%), with the rest owned by private and institutional investors. INA shares have been listed both on the London stock exchange and Zagreb stock exchange since 1 December 2006. INA Group is composed of several affiliated companies wholly or partially owned by INA, d.d.
History
INA was established on 1 January 1964 through the merger of Naftaplin (company for oil and gas exploration and production) with the refineries in Rijeka and Sisak. Initially, the company was called "Oil and Gas Conglomerate" but on 26 November its name was changed to the one it has today. In 1990, INA became a state-owned company and in 1993 a joint stock company. The first stage of its privatization was in 2003 when MOL became INA’s strategic partner by purchasing 25% of the shares. 7% of the shares were transferred to the Croatian Defenders’ Fund in 2005. After selling 7% of the shares to former and current INA employees, ownership structure of the company was changed and now less than 50% of total shares lie in state ownership. In this sense, the Croatian Government and MOL have signed the First Amendments to the Shareholders Agreement.[3]