Hungary to Spin-Off Gas Units

MOL, Hungary's oil and gas group, has invited bids for its three gas units.

"Following the recent changes in gas regulations the time has come to explore MOL's strategic possibilities through which we can maximize the value of our gas business and thus of the entire company," President-CEO Zsolt Hernadi said in an official statement.

The bids are for the partial sale and partnership in its three gas units, transport unit Foldgazszallito, the stockpiling company Foldgaztarolo, and distributor Foldgazellato.

Further details of the tender were not provided.