OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV
Update to an already disclosed ad hoc announcement
OMV, the leading energy company in the European growth belt, herewith announces that it is in detailed negotiations with Turkish company Doğan Holding regarding a potential acquisition of Doğan Holding’s stake in Petrol Ofisi by OMV. Petrol Ofisi is Turkey's leading refined oil products marketing company, active both in retail and commercial business.
Prior negotiations between OMV and Dogan Holding which had been terminated in November 2009 (see EANS ad hoc announcement as of 18 November 2009) serve as basis for the negotiations.
OMV entered the Turkish market in 2006 by acquiring 34% of Petrol Ofisi, and increased its stake to 41.58% in the following years. Doğan Holding, which owns 54.17% of Petrol Ofisi, is the other major shareholder of the company.
To strengthen its presence in Turkey would be consistent with OMV's strategy to enhance its position in markets with substantial mid- and long-term growth rates in Central and Southeastern Europe.
Further information available at www.poas.com.tr
OMV Aktiengesellschaft
With Group sales of EUR 17.92 bn and a workforce of 34,676 employees in 2009, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy Group in the European growth belt, OMV is active in Refining & Marketing (R&M) in 12 countries. In Exploration & Production (E&P) OMV is active in 16 countries on four continents. In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Through its 2,000 km long gas pipeline network in Austria G&P transports approximately 75 bcm gas annually. OMV’s Central European Gas Hub is with around 23 bcm annual trading volume one of the most important gas hubs in Continental Europe.
OMV is the leading energy Group in the European growth belt with oil and gas reserves of approximately 1.19 bn boe, daily production of around 318,000 boe in Q2/10 and an annual refining capacity of approximately 26 mn t. OMV now has 2,319 filling stations as of Q2/10. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 41.58% of Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
Sustainability
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The Company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines. This report is published at the same time as the annual report.