MOL completed the sale of two gas units (wholesale and storage) to E.ON on Friday, the company announced in a statement. MOL added, that final conditions of the transaction are identical with those announced in January. Please note that in its January statement on the gas assets disposal MOL reported E.ON as paying € 300 million in equity and € 600 million in debt.
The news came in line with expectations, MOL has already indicated that the deal would be closed by the end of 1Q06. Despite that, market reacted positively on Friday, as investors get calmed that the gas saga is really over for the company. We keep our buy recommendation on the stock with our fair value target of HUF 25,730.