The Hungarian oil and gas company MOL Plc. has notified the capital markets on the website of the Budapest Stock Exchange that it entered into a sale and purchase agreement with ENEOS Materials Corporation of Japan pursuant to which ENEOS acquires MOL’s 49% stake in ENEOS MOL Synthetic Rubber Ltd. Following the transaction, ENEOS will own 100% of EMSR.
In 2015, MOL started the implementation of a synthetic rubber plant at the premises of MOL Petrochemicals in Tiszaújváros, NE Hungary in a joint venture with JSR Corporation of Japan. The S-SBR (solvent styrene butadiene rubber) plant started operations in 2020 with a capacity of 60 ktpa. JSR's 51% stake in the joint venture was subsequently sold to ENEOS in 2022.
The transaction is expected to close in the first quarter of 2025, subject to regulatory approval. Under the terms of the agreement, EMSR will continue its production activities at the Tiszaújváros plant and MOL will remain a key feedstock, utility and service provider of the company.
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