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Penta, J&T increase holdings in Slovnaft refinery

A consortium of financial powers - Penta Group and J&T Finance - were confirmed as the holders of 7.98% of shares in the Slovnaft refinery, making the pair the third largest shareholder in Slovnaft.

A 36% share in the Slovak refinery was sold to Hungarian oil and gas company Mol last year, and the group is expected to up that stake to a majority one either this year or early next.

The Restitution and Investment Fund July 24 also sold its 1.28% stake in Slovak refinery Slovnaft to the Cyprus-based Trim Luffer Ltd. It was reported that the same group had bought the 7.98% stake from the FNM privatisation agency for Penta and J&T Finance.

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