ČEZ launches sale of its 7.5 percent stake in MOL

Czech energy company ČEZ has launched the conditional sale of its 7.5 percent stake in Hungarian oil and gas company MOL, the company’s spokesman Ladislav Kříž told the Czech News Agency on Thursday. ČEZ is expecting the transaction will contribute to this year’s profit by around 3.4 billion crowns. ČEZ bought the share in MOL in 2007 through its unit ČEZ MH with a plan to build joint venture gas-fired power plants in Hungary and Slovakia. Those plans were not eventually carried out.

Author: Ruth Fraňková