MOL invested Ft 150 billion to open the facility in Algy , near Szeged, four years ago.

MOL has a 72% stake in MSZKSZ, while various other energy companies have 28%.

In March, MOL signed a letter of intent to sell the storage unit to state asset manager MNV and MSZKSZ, which will have 51% and 49% stakes, respectively.

The deal was not completed because law firm Baker & McKenzie advised that the participation of the MNV would violate competition law regulations.

An unnamed company will replace the MNV in a deal that is scheduled to be signed on September 30.

Source: Hungary Around the Clock

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