CEZ announces conditional sale of 7.5% stake in MOL

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Czech energy company CEZ announced this morning the conditional sale of a 7.5% stake in Hungarian oil and gas company MOL, Hungarian wire service MTI reported.

The final placing price determined via a book building process was HUF 18,700 per share, with preliminary proceeds of about HUF 143.1 billion, CEZ said.

The shares were conditionally sold by CEZ unit CEZ MH which will use the proceeds to fund the invitation to holders of EUR 470.2 million of bonds exchangeable for MOL shares to sell their bonds for cash.

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