Mol May Offer Treasury Shares for INA Stock, Bloomberg cites Napi
Hungarian oil refiner Mol Nyrt. may offer company shares in exchange for shares in Croatian subsidiary INA Industrija Nafte, Bloomberg cites Hungarian economy daily Napi Gazdaság's interview with MOL Chief Executive Officer József Molnár.
Treasury shares owned by Mol or kept at various banks “could play a role in solving the INA situation,” which at present resembles “a war zone,” Molnár said in an interview published on Wednesday.
Mol has financial resources for “a really large” acquisition of more than $1 billion and may use its own shares in such a transaction, Molnar said, according to Napi. Mol is “checking out” regional acquisition possibilities, including Polish Lotos, while keeping the main focus on organic development, Molnár told the newspaper.
The Budapest-based company may “in the future” return to its dividend policy agreed earlier, Molnár said, Napi reported. Mol last paid a dividend in 2008.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.