MOL increases its stake in ALTEO Plc. to nearly 40% and divests its 15% stake in WABERER’S INTERNATIONAL Plc.
MOL increases its stake in ALTEO Plc. to nearly 40% and divests its 15% stake in WABERER’S INTERNATIONAL Plc.
MOL Plc. (“MOL”) informs capital market participants of the following:
MOL and Főnix Private Equity Fund, managed by Gránit Asset Management Ltd., signed a sale and purchase agreement on MOL RES Investments Ltd., which is solely owned by MOL, acquiring Főnix Private Equity Fund’s (“Főnix”) stake in ALTEO Plc. (“ALTEO”) consisting of 3,064,849 shares, representing a 15.38% stake. In return, MOL Vagyonkezelő Kft., which is solely owned by MOL, sells its existing 2,654,061 shares in WABERER’S INTERNATIONAL Plc. (“WABERER’S”), representing a 15.00% stake, to Főnix.
Following the transaction, MOL Group’s total stake in Alteo increases to 39.97%.
“MOL believes in a smart energy transition that balances sustainability and competitiveness. To achieve our goals, we need smart and reliable partners like ALTEO, which is why we are strengthening our strategic partnership even further. We are working together to develop and expand sustainable energy solutions – a prime example of this is the recently commissioned 40-megawatt energy storage project in Tiszaújváros. In the future, we will continue to expand our renewable energy capacity together, thereby contributing to strengthening Hungary’s energy security,” said Dr. György Bacsa, Chief Strategic Officer of MOL Group.
Given that both WABERER’S and ALTEO are listed companies, the transaction was priced based on the 180-day average of the companies’ share prices and the share packages included in the exchange can be considered equivalent, thus the transaction does not involve cash flows.
In parallel with the share exchange, Riverland Private Equity Fund, managed by Lead Ventures Fund Management Ltd. purchases a total of 1,837,686 ALTEO shares owned by Főnix, representing a 9.22% stake.
The WABERER’S share transfer is subject to the approval of the National Bank of Hungary, while the ALTEO share transfers require the approval of the Hungarian Energy and Public Utilities Regulatory Office and the Hungarian Competition Authority. The transactions are expected to close in the second quarter of 2026. The closing of each transaction is conditional on the closing of the other transactions.