CEZ says agrees to buy 7 pct in Hungary's MOL

20.12.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Czech power company CEZ said on Thursday it had agreed to buy a seven percent stake in Hungarian oil group MOL ....

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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]

Autor článku

Jan Korselt  

Články ze sekce: Zpravodajství ČTK