Hungary's MOL Sells 49% BaiTex Stake to Turkey's TPAO for $175 Million

ISTANBUL--April 7, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--Hungary's partly state-owned energy group MOL (BUD:MOL) (Budapest, Hungary), closed a deal to sell a 49% stake in upstream company BaiTex LLC to Turkey's state-owned oil company Turkish Petroleum Corporation (TPAO) (Ankara, Turkey) for $175 million.