Mol gets option to buy 10% of its shares from gov't
"The option agreement ensures appropriate financial flexibility for the execution of Mol's growth strategy," Chairman Zsolt Hernádi said in an e-mailed statement. It "provides the company with stability to implement its long-term strategy and reduces the risk resulting from marketing the significant share package."
Hungary will retain a right to veto any sale by Mol of its shares to an industry buyer through 2015, the government said. The government most recently sold Mol stock in February 2004, raising $360 million by selling a 10.9% stake to investment funds.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.