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EBRD sells stake in Slovnaft to MOL

A STAKE of 8.3 percent in the Slovak oil refiner Slovnaft has been sold by the European Bank for Reconstruction and Development (EBRD) to Slovnaft's Hungarian owner MOL, probably as part of a recent compulsory public offer, the news wire TASR reported.

According to a list released by Slovakia's Central Securities Depository on February 2, the EBRD no longer has a stake in Slovnaft.

In a compulsory buy-out conducted between November 23, 2003, and January 23, 2004, MOL purchased nearly 5.86 million shares from Slovnaft's minority shareholders for the price of Sk1,379 (€34) a piece, raising its stake to 98.4 percent.

Once its stake in Slovnaft became a majority in March 2003, MOL was obliged to bid for the rest of the equity.

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

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