Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Wednesday that the share purchase agreement as part of MOL's strategic alliance with CEZ A.S.(BAACEZ.PR) was financially closed and settled Jan. 23, 2008.
Under the agreement announced Dec. 20, 2007, MOL sold 7,677,285 pieces of "A" series MOL shares to CEZ at HUF30,000 per share.
MOL has an American call option for those shares with a strike price of HUF20,000 per share. The option can be exercised within 3 years.
MOL pays an upfront and annual option fee to CEZ.
Following this transaction, MOL owns 1,465,734 "A" series and 578 "C" series ordinary shares in treasury.