Big changes at the Hungarian MOL-ocha. A holding company will be established, modeled on Orlen

MOL is starting to reorganize the group and will work on creating a holding structure, the company said in a statement.

The announcement states that the group's business portfolio is constantly changing, both organically and through expansion, and changes in the external environment, the impact of regulations and the size and complexity of the business require the transformation of the group's corporate structure, management model and operational activities. The aim is to develop a flexible legal structure that will enable the limitation or complete elimination of emerging restrictions, thus supporting the implementation of the group's strategy.

Following the transition to a holding company structure, the MOL group will consist of a holding company (MOL Plc.) and several operating companies (i.e. Upstream, Downstream and Retail, in addition to the existing Circular Economy business line).

An extraordinary general meeting of MOL has been convened for November 27 – then the shareholders will decide on the planned changes. The transformation to the new structure should be finalized within 5-6 months from submitting the application to the court. (PAP Business)

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