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Mol buys Ft 237 bln in treasury shares from ÁPV

Hungarian oil and gas company Mol Rt announced it has acquired 10,898,525 A-series treasury shares, or a 9.81% stake, from the State Privatization and Holding Rt (ÁPV) in a stock exchange transaction yesterday, in line with an earlier agreement.

Mol paid an average price of Ft 21,760 per share, or the weighted average stock exchange price of Mol shares for 90 trading days prior to May 8, 2006. The total purchase price calculates as roughly Ft 237 billion. The financial service provider in the transaction was ING Bank Rt.