MOL gains strength downstream with Slovnaft consolidation

MOL and Slovnaft, together with a total combined capacity of 330,000 b/d, will control some of the most complex refining assets in Eastern Europe. Shown is MOL's Szâzhalombatta refinery in central Hungary. Photo courtesy of MOL.Click here to enlarge imageMOL Rt. and Slovakia's Slovnaft AS are linking up in the first cross-border consolidation of two former East Bloc petroleum firms. The deal, which anchors MOL's downstream position, is expected to be approved during the third quarter of this year. MOL is taking a $262 million initial stake of up to 36.2% in Slovnaft, Slovakia's sole refiner and largest petroleum products retailer. Purchase of existing shares will ...

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