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CEZ said that MOL would have a 3-year option to buy the stake back at 20,000 forints ($113.4) per share. CEZ said that after substracting the option premium, it would pay around 560 million euros ($804.6 million) for the stake.
The two firms sealed a strategic alliance, which will also help MOL fight off a takeover approach by Austria's OMV . Under the deal, CEZ and MOL will jointly build gas-fuelld power plants in the region, starting with two plants in Hungary and Slovakia.
(Reporting by Jan Korselt; editing by Alan Crosby)
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Keywords: CEZ/MOL
[PRAGUE/Reuters/Finance.cz]