OMV sells Turkish unit Petrol Ofisi to Vitol subsidiary for ?1.37bn

摘要

LONDON (ICIS)--Austria’s OMV said over the weekend it has agreed to sell 100% of wholly owned Turkish fuel distribution subsidiary OMV Petrol Ofisi for ?1.37bn to VIP Turkey Enerji, a subsidiary of the Switzerland-based Vitol Investment Partnership. Rainer Seele, OMV Chief Executive Officer, said: “The original plan of integrating Petrol Ofisi into the value chain of OMV Group could not be realised. Therefore, the decision to sell the company was the right and necessary step in the course of implementing our corporate strategy. In light of the challenging environment, I am pleased that we successfully concluded the negotiations.”