Hungary

Hungary

Buys stakes in oil and gas company

25 May 2011

In late May, Hungarian authorities approved the purchase of a 21 percent stake in the country's largest oil and gas company, MOL, from Surgutneftegas (Russia) for €1.88bn (US $2.6 billion). Government regulators also declined to register Surgutneftegas's shares, thus excluding the company from MOL's annual shareholder meetings. The Government's purchase will be financed via funds from the IMF-EU deal in place in 2008-10.

Type:
  • Entry and establishment (Ownership and control)
Industry:
  • Services (Electricity, gas, steam and air conditioning supply)
Inward FDI:
No
Outward FDI:
No
Sources: