Published: December 06 2023
MOL, a Hungarian oil and gas company, has made an investment in the Hungarian transport company, Waberer's, in order to enhance their business collaboration. This article will outline the details of the investment and the strategic cooperation agreement between the two companies.
Investment in Waberer's
MOL has acquired a 15 percent stake in Waberer's through an agreement with Indotek Group. This investment will strengthen the relationship between the two companies and allow for collaboration in complex logistics services, alternative fuels, energy efficiency development, and green energy transition.
Sale of Indotek Group's Stake
Indotek Group, the investment management group, has announced that it will sell its 28.9 percent stake in Waberer's International Plc. The remaining 15 percent will be sold through an investment service provider. Once the necessary permits have been obtained, MOL's subsidiary, MOL Vagyonkezelő Kft, will acquire 15 percent of Waberer's shares.
Objectives of the Strategic Agreement
The strategic agreement between MOL and Waberer's aims to further strengthen their traditional business activities and collaborate on mobility, sustainability, and energy efficiency projects. MOL's goal is to implement joint projects with Waberer's that align with their SHAPE TOMORROW 2030+ strategy, which focuses on becoming a key player in the low-carbon circular economy of East-Central Europe and supplying low-carbon fuels to the mobility sector.
Current Collaboration
Currently, MOL and Waberer's cooperate in various areas. Waberer's provides complex logistics services to MOL at multiple locations, while MOL supplies fuel and lubricants to Waberer's. The investment and strategic cooperation agreement will further enhance this collaboration.
Questions & Answers
What is the purpose of MOL's investment in Waberer's? MOL's investment in Waberer's is aimed at boosting business collaboration between the two companies in the areas of complex logistics services, alternative fuels, energy efficiency development, and green energy transition.
What percentage of Waberer's will MOL acquire through this investment? MOL will acquire a 15 percent stake in Waberer's through this investment.
Who else is involved in the sale of Waberer's shares? Investment management group Indotek will sell its 28.9 percent stake in Waberer's, with the remaining 15 percent to be sold through an investment service provider.
What is the relationship between MOL and Waberer's prior to this investment? MOL and Waberer's have developed a close relationship in the fields of complex logistics services and fuel sales in recent years.
What are the joint projects that MOL and Waberer's aim to implement? MOL and Waberer's aim to implement joint projects that contribute to MOL's SHAPE TOMORROW 2030+ strategy, which focuses on becoming a key player in the low-carbon circular economy of East-Central Europe and supplying the mobility sector with low-carbon fuels.
In which areas do MOL and Waberer's currently cooperate? Currently, Waberer's provides complex logistics services to MOL at several locations, while MOL sells fuel and lubricants to Waberer's.
How will MOL's investment contribute to MOL's overall strategy? MOL's investment in Waberer's is part of its strategy to become a key player in the low-carbon circular economy of East-Central Europe and supply the mobility sector with low-carbon fuels.
