MOL set to buy remaining TVK shares

Deals

Hungarian oil and gas company MOL made a voluntary public tender offer on petrochemical works TVK yesterday, the company announced in a stock exchange filing yesterday. It bid HUF 4,984 for each of the outstanding ordinary shares of TVK based in Tiszaújváros in eastern Hungary.

TVK, suspended trading on Tuesday pending the announcement, and closed at HUF 5,086 on Monday on the Budapest Stock Exchange (BET). It ended last year at HUF 4,745. MOL already owns 94.86% of TVK's 23.04 million shares. The National Bank of Hungary in its capacity as financial supervisory authority has yet to approve the tender.

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