Czech energy company CEZ has conditionally sold its 7.5 % stake in Hungarian oil and gas company MOL for about 498 million dollars.
The statement from CEZ said that the final placing price determined via a bookbuilding process was 60.54 euros per share. The shares were conditionally sold by CEZ subsidiary CEZ MH, which will use the proceeds to fund the invitation to holders of 470.2 million euros of bonds exchangeable for MOL shares to sell their bonds for cash.
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Tags: CEZ, financial, Hungary, Mol, stocks