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OMV Aktiengesellschaft / OMV has reached an agreement for the sale of OMV Petrol Ofisi to Vitol Group

Published: March 3, 2017; 22:29 · (Vindobona)

OMV has reached an agreement for the sale of its Turkish fuel supply and distribution company OMV Petrol Ofisi A.S. to VIP Turkey Enerji A.S., a subsidiary of Vitol Investment Partnership Ltd. The transaction is effected via a sale of 100% of the shares of OMV's Turkish holding company OMV Petrol Ofisi Holding A.S. The total purchase price of the transaction amounts to EUR 1,368 mn. Thereof EUR 81 mn relate to net cash proceeds from a prior carve-out of OMV's Turkish gas entities. The execution and implementation of the transaction has already been approved by the Supervisory Board of OMV.

OMV Aktiengesellschaft / OMV has reached an agreement for the sale of OMV Petrol Ofisi to Vitol Group / Picture: © Vindobona

 

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This article includes a total of 507 words.

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