UPDATE 1-Czech oil group KKCG says sold 6 pct in Unipetrol

18.09.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

(Adds J&T as buyer, updates prices)...

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PRAGUE, Sept 18 (Reuters) - Privately owned Czech oil and gas firm KKCG has sold a 6 percent stake in oil processing group Unipetrol , KKCG spokesman Daniel Plovajko said on Tuesday.

Stock exchange data showed on Monday that a 6.1 percent stake had changed hands at 280 crowns per share, a touch below market price, valuing the transaction at 3.08 billion crowns ($155.3 million).

"It was a portfolio, not a strategic, investment, and therefore we decided to divest the stake," KKCG spokesman Dan Plovajko said.

The stake was bought by Czech-Slovak financial group J&T in cooperation with its private and institutional clients, J&T said.

"J&T believes in Unipetrol's strong growth potential," J&T said in a statement.

Unipetrol shares rose 0.4 percent to 293.80 crowns by 1336 GMT, slightly underperforming the PX index which gained 0.6 percent.

Unipetrol is 63 percent owned by Poland's PKN Orlen .

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