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Kinstellar and Linklaters Advise on Sale by CEZ of Stake in MOL

Kinstellar and Linklaters Advise on Sale by CEZ of Stake in MOL

Czech Republic

Kinstellar and Linklaters have advised Barclays Bank PLC, Citigroup Global Markets Limited, and Deutsche Bank AG, London Branch, on the sale of a 7.5% stake held by CEZ in the Hungarian oil company MOL.

According to Kinstellar, "the transaction aimed to avoid the risk of a decline in MOL's share price following the sale." The firm reports that "CEZ Group estimates that the transaction will have a total positive effect on its pre-tax profit in 2017 of CZK 3.4 billion (approximately EUR 125 million)."

Barclays Bank PLC, Citigroup Global Markets Limited and Deutsche Bank AG, London Branch acted as Joint Dealer Managers in relation to the Invitation and Joint Bookrunners with respect to the equity placing. Citigroup Global Markets Limited acted as Settlement Agent.

The Kinstellar team was led by Counsel Martina Brezinova and Partner Kamil Blazek.

Kinstellar did not reply to our inquiry about counsel for CEZ on the deal.

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