BUDAPEST--Hungarian oil and gas firm MOL Nyrt. (MOL.BU)
announced Tuesday in a stock exchange filing that it sold its stake
in a natural gas storage facility to the Hungarian state-owned
development bank and the country's Hydrocarbon Stockpiling
Association.
MAIN FACTS:
- MOL signed the sales deal Oct. 7 with the Hungarian
Hydrocarbon Stockpiling Association, or MSZKSZ, and the Hungarian
development bank MFB Zrt. After the transaction MFB will hold 51%
of the facility and MSZKSZ will buy the MOL's remaining 21.46%
stake and will have 49%. MSZKSZ was already a minority stakeholder
in the storage facility.
- The transaction price was based on the asset valuation
prepared by independent auditors, and included the full settlement
of loans between MOL and the storage facility. The transaction is
fully cash-based. The closing of the transaction is expected until
the end of the year.
- MOL didn't reveal the purchase price.
- The gas storage facility is located in Hungary's Algyo. It was
established in 2009 with a capacity of 1.9 billion cubic
meters.
- MOL opened trading down HUF50 or 0.3%, at HUF15,300.
Write to Veronika Gulyas at veronika.gulyas@wsj.com