MOL has received an additional authorization period from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to continue negotiations over a potential acquisition of a controlling stake in Serbia’s NIS. The extension sets a new deadline for discussions of 16 June. MOL said the added time is intended to allow both parties to complete preparation of documentation tied to the proposed transaction.
OFAC authorization timeline for NIS discussions
The latest decision follows earlier approvals from OFAC covering the same negotiations. The most recent extension prior to the current one was granted on 22 May, extending talks until 6 June. MOL reportedly requested a 30-day extension, but U.S. regulators approved an additional ten-day period instead.
MOL said significant progress has been made during the latest round of talks. The company added that the newly granted extension should provide sufficient time to finalize remaining elements of the transaction framework. No final agreement has been announced as negotiations continue under the OFAC authorizations.
Focus on majority stake and sanctions-related scrutiny
The negotiations center on a potential majority stake acquisition in NIS, described as one of Serbia’s most strategically important energy companies. The process has drawn attention linked to NIS’s ownership structure and the implications of U.S. sanctions targeting Russian-linked energy assets. MOL’s statements indicate that the parties are continuing work toward legal and commercial documentation for a possible deal.
While the outcome of the talks has not been disclosed, OFAC’s decision reflects continued allowance for discussions within the authorized timeframe. Both sides have additional time to complete negotiations and prepare the necessary documentation for a potential transaction involving NIS.
