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Sarajevo-based Energoinvest intends to sell 23 petrol stations in Croatia, after receiving approval from the Agency for Privatization in the Federation of Bosnia and Hercegovina (AP FBiH).

The money received from the sale will be used for the financial consolidation of the company. The Management Board of AP FBiH postponed the decision until Energoinvest delivers the complete documentation. The plan is to sell the Energoinvest petrol stations by two methods, so-called small privatization or sell them individually. The Agency expects Energoinvest to deliver their decision on the method of sale. In the case of small privatization, it is necessary to confirm how Croatia regulates this matter, said the assistant director of the AP FBiH, Hamdija Kulović. The accounting value of the petrol stations in Croatian amounts to 17.4 million KM (convertible Bosnian marks), but their market value is estimated to be significantly lower.