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Financing of OMV-Deal in Turkey Still Open
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Published: October 25, 2010; 16:09 ♦ (Vindobona)
OMV leaves the financial markets still in the dark as to how it will cope with the acquisition.
Financing of OMV-Deal in Turkey Still Open / Picture: © Wikimedia Commons / Waerfelu [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]
The take over of the Turkish Petrol Ofisi costs OMV a billion euro. That the entire amount cannot be financed with loan capital is almost clear, because its rating would deteriorate significantly, as gearing would increase from the current rate to about 40%. The self-imposed ceiling is presently at 30%. The rating is currently A-, but there is a threat of downgrading into the BBB…
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