April 1, 2014 / 3:47 PM / in 3 years

MOL sells BaiTex stake to Turkish Petroleum for $175 mln

BUDAPEST, April 1 (Reuters) - Hungarian energy group MOL has finalised a deal to sell a 49 percent stake in upstream company BaiTex LLC to Turkish Petroleum Corporation for about $175 million, MOL said in a statement on Tuesday.

BaiTex holds hydrocarbon licences for the Baituganskoye field and Yerilkinsky block in the Volga-Ural region in Russia.

The deal was announced on Feb. 20.

MOL shares closed at 12,575 forints ($56.43), up 0.2 percent. ($1 = 222.8606 Hungarian Forints) (Reporting by Sandor Peto. Editing by Jane Merriman)

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