Brief: Hungary's MOL gets OFAC lincense for transaction related to acquisition of Serbia's NIS

MOL Magyar Olaj es Gazipari Nyrt

Thu 10:22

Nov 5 (Reuters) - MOL Magyar Olaj es Gazipari Nyrt MOLB.BU says in a statement:
RECEIVED LICENSE FROM THE US DEPARTMENT OF THE TREASURY’S OFFICE OF FOREIGN ASSETS CONTROL TO EXECUTE PREPARATORY TRANSACTION IN RELATION TO NIS ACQUISITION PROCESS 
OFAC HAS GRANTED MOL AND MOL SERBIA INVESTMENT KFT AN ADDITIONAL LICENCE IN CONNECTION WITH THE POTENTIAL ACQUISITION OF AN OWNERSHIP INTEREST IN NIS
LICENCE IS VALID UNTIL 28 FEBRUARY 2027
THE LICENCE DOES NOT AUTHORISE THE COMPLETION OF THE TRANSACTION RESULTING IN THE DIVESTMENT OF RUSSIAN OWNERSHIP AND CONTROL IN NIS 
COMPLETION OF THE ACQUISITION OF NIS SHARES WOULD REQUIRE SEPARATE AUTHORIZATION FROM OFAC
Source text: [https://www.bse.hu/newkibdata/129563878/MOL_ofac%20execution_20261105_eng.pdf]
Further company coverage: MOLB.BU

 (Reporting by Anita Komuves)
 ((KOMUVES.Anita@thomsonreuters.com;))