OMV increases share in Petrol Ofisi from 41.58% to 95.75%
Oktober 22, 2010 - 6:45 pm (CET)
- Acquisition of 54.17% share in Petrol Ofisi from Doğan Holding: Purchase price of EUR 1 bn
- OMV gains sole control over one of the leading companies in the Turkish oil
- products retail and commercial business
- Strong basis for further integrated growth within Turkey: Numerous advantages for all OMV business segments
- Presence in Turkey as strategic bridgehead to resource-rich Caspian Region and Middle East
OMV, the leading energy Group in the European growth belt, today agreed with the Turkish company Doğan Holding to increase OMV’s stake in Petrol Ofisi A.S., one of the leading companies in the Turkish oil products retail and commercial markets, from 41.58% to 95.75%, thereby taking full control of this company. This acquisition is a further step in OMV’s growth strategy and aims at positioning Turkey as a third hub, besides Austria and Romania, within the integrated energy Group. In addition to the activities of Petrol Ofisi, the gas-fired power plant in Samsun (under construction) and the Nabucco gas pipeline project, Turkey represents a strategic bridgehead to the resource-rich Caspian Region and the Middle East.
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.