Hungary's MOL buys I&C Energo from CEZ
Hungarian oil group MOL has bought all the shares of Czech engineering and system integration company I&C Energo a.s. from Czech utility CEZ.
“This will enable MOL to accelerate building up power business and provide us with internal engineering know how capabilities,” it added.
MOL did not disclose financial details of the deal.
It said I&C Energo had revenues of €58.1 million last year and its earnings before tax and depreciation (EBITDA) exceeded €4.8 million.
Last month a MOL-CEZ joint venture to invest in gas-fired power plants received competition clearance.
CEZ has supported MOL in a fight with Austria's OMV which last year made an unsolicited bid for MOL. MOL's board rejected the proposal. (Reuters)
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