Hungarian oil and gas company MOL and Japan’s Eneos Materials Corporation recently signed a sale and purchase agreement whereby Eneos will buy MOL’s 49% stake in the joint venture Eneos MOL Synthetic Rubber (EMSR).
After the transaction, Eneos will be 100% owner of the company.
The transaction is expected to be closed in the first quarter of 2025, pending regulatory approval.
MOL started the implementation of a synthetic rubber plant at the premises of MOL Petrochemicals in a joint venture with JSR Corporation of Japan in 2015. The S-SBR (solvent styrene butadiene rubber) plant started operations in 2020.
JSR’s 51% stake in the joint venture was sold to Eneos in 2022.
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.