MOL tender for TVK shares successful

Deals

Hungarian oil and gas company MOL said on Friday that its voluntary public tender offer for the ordinary registered shares of petrochemicals firm TVK based in Tiszaújváros in eastern Hungary, was successful. TVK shareholders offered a total of 1,028,926 ordinary shares, or 82.4% of the free float, of TVK to MOL.

MOL accepted the shares offered at HUF 4,984 per share as was bid on January 13.  TVK was quoted at HUF 4,960 late Friday afternoon on the Budapest Stock Exchange, up 0.40% on the day.

The day before MOL's announcement of the bid on January 13, TVK closed at HUF 5,086. It ended last year at HUF 4,745. If MOL purchases the offered shares, its stake in TVK will increase to 99.1% from 94.86%.

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