Focus

The MOL story

MOL Group (MOL) is the leading regional independent oil and gas company and one of the largest corporations in Central & South Eastern Europe.

MOL Group (“MOL” or “the Company”) comprises MOL, Hungary’s largest enterprise, the Slovakian oil company Slovnaft, the leading Hungarian petrochemical company TVK, the Austrian retail and wholesale company Roth, the Italian refining and retail company IES and the Croatian retail network Tifon. In addition, MOL has a strategic partnership with the Croatian national oil and gas company, INA (including a 25% stake).

MOL’s activities focus primarily on its core geographic region. It has close to 1,000 Filling Stations and exploration and production facilities in eight countries in Europe, the Middle East, Africa and the CIS states. MOL has upstream, downstream, petrochemical and gas transmission operations in over forty countries and is market leader in each of its core activities in Hungary and Slovakia.

MOL has produced Europe’s fastest growth in shareholder return in the past ten years, ahead of all its major industry peers on the continent, excluding Russian companies. MOL’s market capitalisation is worth around USD 16bn. The Group employs some 15,000 people, worldwide.

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OMV’s hostile acqusition attempt against MOL

In June 2007, OMV made an unsolicited and unwelcome proposal to take over MOL. MOL has rejected the proposal because it contains a number of substantial flaws, significantly undervalues the MOL Group and underestimates the destruction of value it would cause. OMV’s hostile approach is highly unusual in the oil industry in Central and South Eastern Europe. Due to the strategic nature of the energy industry, any takeover or merger is usually preceded by high level co-ordinations with relevant bodies, including managements or boards of directors. OMV’s action has therefore raised many eyebrows, not only in Hungary, but in Austria, Europe and elsewhere.

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