May 17, 2009 / 7:32 AM / 11 years ago

MOL buys 10 pct stake in Pearl for 6.27 mln shares

BUDAPEST, May 17 (Reuters) - Hungarian oil and gas firm MOL (MOLB.BU) has bought a 10 percent stake in Pearl Petroleum Co. Ltd. for 6.271 million of its own shares to develop two gas fields in the Kurdistan region of Iraq, it said on Sunday.

“Pearl holds all of the companies’ legal rights in Khor Mor and Chemchemal gas-condensate fields in the Kurdistan Region of Iraq,” MOL said in a filing with the Budapest Stock Exchange. (Reporting by Gergely Szakacs; Editing by Alex Richardson)

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