NBS approved MOL´s proposal to buy out Slovnaft shares

  • MOL may buy out shares from Slovnaft´s minority shareholders
  • price per share will reach EUR 85
  • the execution of the squeeze-out right will be discussed on extraordinary general meeting of Slovnaft

Bratislava, 9 September 2019 - National Bank of Slovakia approved MOL's proposal to buy out shares of Slovnaft. The price per share was set at EUR 85. The price was determined in accordance with legal regulations and approved together with the terms and conditions of the purchase by the National Bank of Slovakia. The total consideration has already been deposited by MOL at the bank.

With the approval of the NBS, MOL has become entitled to request SLOVNAFT, a.s. to convene an extraordinary general meeting to exercise the squeeze-out right.

By purchasing shares from minority shareholders MOL wants to simplify and rationalize the ownership structure of Slovnaft and thus simplify corporate governance. Before deciding on squeezer-out, the company offered the option to sell its shares to minority shareholders as part of a voluntary offer. MOL Group currently owns 98.72% of Slovnaft's shares.

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