Dana Gas raised US$135 million from the sale of about half its stake in MOL, a Hungarian oil and gas firm, the company said Sunday. Dana sold 1.675m shares in MOL, one of Dana’s partners in a gas project in Iraq’s Kurdistan region, on Friday.
The sukuk restructuring, which involves a $70m cash repayment and a pair of new sukuks covering the remaining $850m, is expected to be completed in the first half of the year. The proceeds from the MOL share sale will be used to meet short-term obligations, including Dana’s sukuk restructuring obligations, the company said………………………………………..Full Article: Source