Tous Actualités
Suivre
Abonner OMV Aktiengesellschaft

OMV Aktiengesellschaft

EANS-Adhoc: OMV Aktiengesellschaft
OMV increases share in Petrol Ofisi from 41.58% to 95.75%

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
OMV / Oil / Gas / Austria
22.10.2010
Update to an already disclosed ad hoc announcement
- Acquisition of 54.17% share in Petrol Ofisi from Dogan 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 Dogan 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 (please refer to EANS ad 
hoc announcement "OMV and Dogan Holding are in detailed negotiations 
regarding an acquisition of Dogan Holding's stake in Petrol Ofisi by 
OMV" as of October 20, 2010). 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 agreed to acquire the 54.17% stake from Dogan Holding for EUR 1 
bn. Closing of the transaction, which is subject to approval of the 
relevant authorities, including anti-trust clearance, is expected 
within the next three months. OMV and Dogan Holding have agreed to 
distribute a dividend to Petrol Ofisi shareholders before closing. 
Based on their respective shareholdings OMV shall receive USD 203 mn,
Dogan Holding USD 265 mn and USD 21 mn shall be paid to free-float 
investors.
OMV enters into this acquisition at a point of time when it enjoys a 
strong balance sheet, with a sound liquidity position and a gearing 
ratio consistent with its long-term target. OMV is committed to 
strict capital discipline and intends to fund this acquisition by 
accessing the most appropriate sources of long-term capital. OMV 
retains the clear objective of maintaining a strong investment grade 
credit rating and therefore does not exclude raising equity as one of
the available funding options.
end of announcement                               euro adhoc

Further inquiry note:

OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: investor.relations@omv.com

Press:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: michaela.huber@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wien / official market

Plus de actualités: OMV Aktiengesellschaft
Plus de actualités: OMV Aktiengesellschaft