MOL fails to acquire all Slovnaft shares
Small shareholders of the company Slovnaft show dissatisfaction with the offer of the Hungarian energy group MOL for their shares as well as with the entire voluntary by-back process. “The company MOL announced its interest in raising its share in the company Slovnaft to 100 percent. In a voluntary takeover bid, MOL offered to purchase the remaining shares of Slovnaft for the price of 84 euros per one share. We think that this offer is inadequately low and fails to reflect the general value of one Slovnaft share,“ civic association OZ-Protection of Small Shareholder’s Rights in Slovnaft informed. The National Bank of Slovakia approved the proposal for MOL’s offer for a voluntary by-back of 1.44 % of Slovnaft shares owned by minority shareholders. This offer was valid from May 10 to July 18. MOL’s press department informed the news agency SITA that more than 32,000 shares had been transferred within this period. “The purchase price was set at 84 euros, above the 12-month average price for which the shares were traded on the Bratislava Stock Exchange until the announcement of MOL’s voluntary bid intention,“ MOL stated.
Full story in Slovak: MOLu sa nepodarilo odkúpiť všetky akcie minoritných akcionárov Slovnaftu