MOL takes over Croatian Tifon

Nov 02, 2007 01:00 AM

Hungarian oil company MOL has completed the takeover of Croatian oil company Tifon. MOL says that the takeover of Tifon was concluded one month after this transaction was approved by the competent body in Croatia.
"After more than nine months of negotiations, collecting of necessary regulatory approvals needed for this takeover, MOL and Tifon have successfully finalised all financial details and completed transaction," says the joint statement.

Hungarian company announced at the beginning of August that it would be acquiring 100 % stake in Tifon, but the price of this acquisition remained unknown, while certain expert estimates put the value of this deal at EUR 100 to EUR 140 mm.

Source / Croatia Today
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