OTP, MOL extend share swap agreement till 2027

Deals

Image by Adriana Iacob / Shutterstock.com

OTP Bank and Hungarian oil and gas company MOL have extended a share swap agreement initially concluded in 2009 until 2027, the issuers said on the website of the Budapest Stock Exchange on Monday, according to a report by state news wire MTI.

The swap agreement is for 24,000,000 OTP shares and 40,084,008 MOL shares, equivalent to 8.6% and 4.9%, respectively, of their share capital.

The swap agreement was last extended in 2017.

ADVERTISEMENT

PMI Falls to 55 Points Figures

PMI Falls to 55 Points

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021 Government

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021

OXO Technologies Looks for New HQ Elsewhere in EU Innovation

OXO Technologies Looks for New HQ Elsewhere in EU

Hungary Adopting Performance-based Financing for Arts Art

Hungary Adopting Performance-based Financing for Arts

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.