The Sarajevo, Bosnia-based fuel retailer Energopetrol is to be sold to a joint venture comprising MOL and the Croat group INA under a deal agreed by the Bosnian government, local reports say.

Portfolio.hu, a Hungarian news service, cites a Reuters report that the deal to sell Energopetrol has gone through after agreements were reached with the firm’s banks. Energopetrol is currently heavily indebted.

INA and MOL will pay $6.7 million in local currency for a 67% controlling stake in the company, although the deal still needs to be ratified by the Energopetrol board.

The Bosnian government will keep a 22% stake under the terms of the sale.