Slovnaft to flood Central Europe

Article Abstract:

Slovnaft (Bratislava, Slovakia), petrochemical firm, and MOL (Hungary) will set up the strongest petrochemical group in Central Europe in 2000. Both the firms have related technologies and the connection will optimise their technological structure. Slovnaft had to find an investor due to high investments. Within the privatisation of the stake of the state National Property Fund in 1995, Slovnaft put itself under an obligation to invest 20 bil Sk. The construction of a new EFPA petroleum processing unit cost 526 mil USD, more than 17 bil Sk. Apart from a 112 mil USD stock increase, Slovnaft used a syndicated credit of 250 mil USD arranged by Citibank and 164 mil USD from its own sources. The entrance of MOL will enable Slovnaft to raise its stock by 150 mil USD in the first stage.

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Slovnaft is acquired by MOL

Article Abstract:

Slovnaft (Bratislava, Slovakia), petrochemical complex, is being acquired by the petroleum and gas company MOL (Hungary) in 2000. In the autumn of 2000 MOL subscribed to more than 4.16 mil new shares in Slovnaft with a nominal value of SOK 1,000 for a total payment of SOK 7.9 bil, USD 158 mil. Within this first step MOL acquired a 36.2% stake in Slovnaft. After two years it will have an option for another at least 50%.

Slovnaft Bratislava

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