An obscure Serbian group has offered $2.35 billion to acquire a majority stake in the Russian-funded oil company NIS.
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NIS operates Serbia’s only refinery. The company’s owner, Ranko Mimovic, stated that this offer has received “general acceptance” from NIS’s Russian owners. The company, named KFT Senator Treasury G.T.7 Two LLC, was established in the summer of 2025. This bid poses a challenge to Hungary’s MOL Group, which is attempting to acquire a majority stake in NIS. Since October 2025, NIS has been under US sanctions.
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