MOL completes TVK squeeze-out
Hungarian oil and gas company MOL has completed a squeeze-out for shares of TVK petrochemicals company, MOL said early today.
According to Hungarian news agency MTI, MOL completed a voluntary public purchase offer for TVK shares earlier in march. With the move, the Hungarian company was able to raise its stake in the petrochemicals company from 94.86% to 99.1%.
In the squeeze-out, which ran until March 23, MOL offered shareholders the same price as in the public purchase offer: HUF 4,984, MTI noted, adding that following this process, the Hungarian company has become the 100% owner of TVK.
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