To acquire assets.
Hungarian oil company MOL plans to acquire international assets from Oman Oil Co. for approximately US$1.28 billion in stock. MOL will sell 8,774,040 shares, or 8% of the outstanding shares, for US$145.429 per share. As part of the strategic cooperation MOL will take over certain international assets and cash from OOC. Closing is expected by year-end. MOL chief executive Zsolt HernÃ¡di says, "We welcome our new strategic shareholder, who will contribute with its assets, extensive business relationships and profound business and technological know-howâ€¦This strategic cooperation will provide MOL significant growth potential in upstream and downstream businesses in the Middle East, Central Asia and in other regions."