OMV Plans to Expand Further in Turkey

Businessn.a. ♦ Published: November 22, 2010; 10:17 ♦ (Vindobona)

The Austrian oil and gas group is still assessing the best form of financing Petrol Ofisi. Further projects in Turkey are being evaluated.

OMV Plans to Expand Further in Turkey / Picture: © Wikimedia Commons / Priwo [Public Domain]

After OMV has agreed to the practically complete takeover of the Turkish Petrol Ofisi, there is still the question of the form of financing open. The increase of the stake in Petrol Ofisi  from 34% to 96% costs OMV 1 billion euro. Closing is expected for December. The acquisition of the 34% stake in 2005 required the same amount.

OMV is presently evaluating the most cost…