MOL switches to a holding structure

According to the information, the goal of the transformation is to create a flexible, future-proof and resilient legal structure in the long term, which reduces or eliminates factors limiting operations and supports the implementation of the company’s Shape Tomorrow 2030+ strategy. With the transformation, the legal structure will be aligned with the existing business operations and management models. The move is in line with international oil and energy industry trends, the statement said.

It is announced that under the new structure, Mol Plc. will remain the center of strategic management, financing and control as a holding company, while the individual main business lines – upstream, downstream and retail – will continue to operate as independent companies, 100 percent owned by Mol. The introduction of the holding structure also serves the long-term transformation of MOL, which aims to strengthen sustainability, digitalization and operational excellence, thus creating an even more efficient, transparent and competitive MOL.

According to the plans of the board of directors, the extraordinary general meeting convened for November 27 will decide on the company’s separation plan, and the transition to the new structure, including the registration and registration with the court of registration, is expected to be completed in 5-6 months.

The transformation does not affect the economic or voting rights of the shareholders and does not entail a value realignment. The change serves exclusively the operational efficiency, transparency and long-term competitiveness of the group of companies, the statement emphasized.