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euro adhoc: OMV Aktiengesellschaft
Mergers - Acquisitions - Takeovers
OMV acquires a majority stake in SNP Petrom SA (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
- Acquisition of 51% stake in Petrom through a combination of a
direct purchase of 33.34% and a simultaneous capital increase in
Petrom
- Group oil and gas reserves more than tripled: 1 billion boe added
- OMV and Petrom create the leading force in the CEE oil and gas
industry
On July 23, 2004 OMV, Central Europe’s leading oil and gas group,
signed a contract to acquire 33.34% of Romania’s largest company
Petrom, simultaneously with an increase in Petrom’s share capital
increasing OMV’s stake to 51%. Petrom has estimated oil and gas
reserves of about 1 billion (bn) barrels of oil equivalent (boe), a
daily production of 220,000 boe, a refining capacity of 8 mn t as
well as 600 filling stations. The purchase price for 33.34% will be
EUR 669 million (mn). Through OMV’s increase in Petrom’s share
capital, between EUR 723 mn to EUR 855 mn will be injected into
Petrom to finance future investments. The precise amount of the
capital increase will depend on the response of Petrom’s minority
shareholders.
OMV oil and gas reserves more than tripled: 1 bn boe added 
Being the leading integrated oil and gas company in the large and
growing market of Romania and possessing very strong upstream assets
makes Petrom a perfect match for OMV. In Exploration and Production
(E&P) Petrom adds approximately 220,000 boe/d to OMV’s 2004 target of
120,000 boe/d. This enables OMV immediately to more than double its
targeted production of 160,000 boe/d for 2008. Petrom’s estimated
reserves of about 1 bn boe will add significantly to OMV’s worldwide
proved reserves of 410 mn boe as of December 2003.
Leader in a market with a population of over 100 million 
In Refining and Marketing (R&M) OMV will move significantly closer to
its targeted market share of 20% in Central Europe set for 2008. With
the acquisition of the biggest filling station network in Romania,
OMV’s overall network will be expanded from currently 1,782 stations
to 2,382. OMV’s market share in retail and commercial in Romania will
increase from the current 6% to more than 30% and in the overall
Danube region from 13% to 18%. With an additional 8 mn t of refining
capacity, the OMV Group’s total will be boosted from 18.4 mn t per
year to 26.4 mn t.
The closing of the transaction and the payment of the purchase price
are expected to take place in the fourth quarter of 2004 after the
necessary pre-closing conditions have been fulfilled.
For further information please visit www.omv.com.
end of announcement        euro adhoc 23.07.2004

Further inquiry note:

OMV
Investor Relations:
Brigitte H. Juen
Tel. +43 1 404 40-21622; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 404 40-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 404 40-21660; e-mail: thomas.huemer@omv.com

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

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 074305
Index: ATX, ATX Prime
Börsen: Bayerische Börse / official dealing
Frankfurter Wertpapierbörse / official dealing
Wiener Börse AG / official dealing
London Stock Exchange / official dealing

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