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OMV takes over Petrol Ofisi for (EURO)1 billion

OMV takes over Petrol Ofisi for (EURO)1 billion

OMV AG, Austria's oil and gas company, says it will take over Turkey's Petrol Ofisi for (EURO)1 billion ($1.4 billion).
The Vienna-based company already owned a nearly 42 percent stake in Petrol Ofisi, but is now increasing it to 95.75 percent with the acquisition of an additional 54.17 percent stake from Dogan Holding, a Turkish company with media and energy interests. The deal is expected to be approved by authorities within the next three months.
OMV CEO Wolfgang Ruttenstorfer said in a statement late Friday that sole control of Petrol Ofisi "is in line with our corporate strategy to further strengthen our leading position in the European growth belt."
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Online:
http://www.omv.at


Updated : 2021-10-26 12:26 GMT+08:00