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MOL reacquires shares lent to MFB Invest and OTP Bank

Hungarian oil and natural gas company MOL on May 14 reacquired 6,271,142 “A”-series shares earlier lent to MFB Invest and OTP Bank, MOL announced.

MOL required 4,665,582 “A”-series shares from MFB Invest, a unit of the state-owned Hungarian development bank MFB, and 1,605,560 “A”-series shares from OTP Bank.

MFB Invest announced that the transaction left the bank with 1,273,271 “A”-series MOL shares and reduced its voting rights in the Hungarian oil and gas company from 5.68% to 1.22%.

OTP did not provide details regarding the bank's remaining shares in MOL, because the transaction did not transcend the 5% threshold in voting rights.

On May 15, MOL acquired a 10% stake in the Pearl Petroleum Company from the Crescent Petroleum and Dana Gas PJSC for an identical 6,271,142 “A”-series MOL shares, thus giving both Crescent Petroleum and Dana Gas a 3% stake in the Hungarian oil and gas company. (MTI – Econews)