MOL announces offer for buying Slovnaft shares

The Hungarian oil and gas company MOL announced a compulsory offer to buy up the remaining shares in Slovak oil refiner Slovnaft at Sk1,379 (€33.6) apiece, news wire TASR reported.

MOL increased its stake in Slovnaft to around 70 percent in March 2003, thus obliging the company to buy any remaining shares.

The company made an initial offer of Sk1,200 (€29.4), disregarding a controversial trade with Slovnaft shares from March 20. MOL argued that the deal was set by J&T financial group to raise the buy-out price since the offer had to be based on the average share price over the previous six months.

The Financial Market Office rejected MOL's complaint and ordered the offer price at Sk1,379 (€33.7). If all minority shareholders were to take up the offer, it would cost MOL Sk8.5 billion (€207.2 million).

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Nationwide testing gained contours

The Defence Ministry reveals details on upcoming testing, removal of the STU rector was far from normal. Take a look at our latest news digest.

President Zuzana Čaputová meeting with scientists and experts on epidemiology, infectology and medicine.

Senate voted STU rector down. Police called to the uni as well

The session of the Academic Senate proposed that Rector Fikar be dismissed.

Miroslav Fikar

Dozens of people die of COVID every day. A drop not expected for at least two weeks

People who would otherwise survive may die of other serious diagnoses due to the epidemic.

Illustrative stock photo

Slovakia orders a curfew and embarks on its COVID experiment

High turnout in testing in four northern districts, decision awaited on extending the project to the nation. Prison for a prominent prosecutor and parliament's speaker injured.

Waiting for the results of COVID tests during the pilot phase of the nationwide testing in the town of Nižná in Orava, northern Slovakia.