Newly established Serbian group KFT Senator Treasury G.T.7 Two LLC has offered $2.35 billion to Gazprom Neft and Gazprom for a stake in the Serbian company NIS. Ranko Mimovic, the owner of KFT Senator Treasury, has stated that the Russian shareholders have "generally accepted" the offer. However, Gazprom Neft has announced that it is preparing to sell its stake in NIS to the Hungarian company MOL and is not engaged in any other negotiations regarding this matter. MOL and Gazprom Neft have entered into a preliminary agreement, but have not yet received OFAC approval.