MOL Sells 49% Stake in ENEOS MOL Synthetic Rubber to Eneos Materials
Deal News | Dec 10, 2024 | CEE Legal Matters
In a notable transaction, Hungarian oil and gas giant MOL has sold its 49% stake in ENEOS MOL Synthetic Rubber (EMSR) to Japanese corporation Eneos Materials. The sale results in Eneos Materials taking full ownership of EMSR, a company focused on synthetic rubber production crucial for tire manufacturing and other industrial uses. The transaction was legally supported by the international law firm Hogan Lovells, advising MOL, and by Oppenheim along with Freshfields Bruckhaus Deringer, advising Eneos Materials. Despite the divestment, MOL will continue to supply feedstock as well as utilities and services to the EMSR facility located in Tiszaujvaros, Hungary. This strategic move underscores MOL's focus on optimizing its business portfolio, while enabling Eneos to strengthen its position in the synthetic rubber market. The legal teams involved boasted a robust contingent of professionals including senior associates and partners from both advisory firms.
Sectors
- Oil and Gas
- Chemicals
- Legal Services
Geography
- Hungary – The transaction involves MOL and the EMSR plant, both based in Hungary.
- Japan – Eneos Materials Corporation, involved in the transaction, is based in Japan.
Industry
- Oil and Gas – MOL is an oil and gas company involved in the sale of a stake in a synthetic rubber production joint venture.
- Chemicals – ENEOS and ENEOS MOL Synthetic Rubber are involved in the production of synthetic rubber, a key chemical product.
- Legal Services – Legal advisory services were provided by firms such as Hogan Lovells and Oppenheim in the transaction.
Financials
- 49% – The percentage stake in ENEOS MOL Synthetic Rubber that MOL sold to Eneos Materials.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MOL | Selling Company | Company | Hungarian oil and gas company involved in the sale of its stake in EMSR. |
| Eneos Materials Corporation | Bidding Company/Buyer | Company | Japan-based corporation acquiring the remaining stake in EMSR. |
| ENEOS MOL Synthetic Rubber (EMSR) | Target Company | Company | Company specializing in synthetic rubber production. |
| Hogan Lovells | Legal Advisor | Company | International law firm advising MOL on the transaction. |
| Oppenheim | Legal Advisor | Company | Legal firm advising Eneos Materials Corporation. |
| Freshfields Bruckhaus Deringer | Legal Advisor | Company | Worked with Oppenheim to advise Eneos Materials Corporation. |