MOL RES Investments Ltd., Fonix Private Equity Fund, managed by Diofa Asset Management and Riverland Private Equity Fund, managed by Indotek-Investments Zrt. launched a mandatory tender offer to acquire a 38.443% stake in ALTEO Energy Services Public Limited Company (BUSE : ALTEO) for HUF 23.5 million.

MOL RES Investments Ltd., Fonix Private Equity Fund, managed by Diofa Asset Management and Riverland Private Equity Fund, managed by Indotek-Investments Zrt. launched a mandatory tender offer to acquire a 38.443% stake in ALTEO Energy Services Public Limited Company (BUSE : ALTEO) for HUF 23.5 million on December 16, 2022. The offer price per share is HUF 3.04 cash per share.

In related transactions, MOL RES Investments Ltd., Fonix Private Equity Fund, managed by Diofa Asset Management and Riverland Private Equity Fund, managed by Indotek-Investments Zrt. Entered into share purchase agreements to acquire 61.557% stake in ALTEO Energy Services Public Limited Company from Wallis Asset Management Zrt. for HUF 2.872 per share.

The offer is subject to obtaining approvals from the National Bank of Hungary in relation to the mandatory public offer, and the Hungarian Energy and Public Utility Regulatory Authority as well as the Competition Authority. As of February 6, 2023, the offer has been approved by the Supervisory Authority and Hungarian National Bank. The deadline for the declaration of acceptance regarding the mandatory public takeover bid commences on February 10, 2023 and ends on March 13, 2023.