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    OMV to Sell Turkish Subsidiary OMV Petrol Ofisi

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Summary

OMV has announced a process to sell up to 100 percent of its wholly owned Turkish subsidiary OMV Petrol Ofisi.

by: Shardul

Posted in:

Asia/Oceania

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OMV to Sell Turkish Subsidiary OMV Petrol Ofisi

OMV has announced a process to sell up to 100 percent of its wholly owned Turkish subsidiary OMV Petrol Ofisi.

The company on Friday said it is currently selecting its advisers to support the potential transaction and the structuring of the envisaged process. “A potential transaction is aimed at optimizing OMV’s integrated portfolio in a challenging market environment.”

OMV Petrol Ofisi is a leading player in the Turkish fuel distribution industry. With 1,785 fuel stations the company operates the largest retail station network in Turkey and it is a leading fuels supplier to commercial and industrial customers.

Total sales volume in 2015 amounted to ca. 10 million tons. In addition, OMV Petrol Ofisi owns the largest fuel storage and logistics business in Turkey with a total storage capacity in excess of 1 million cubic meters. The company is also the largest distributor of lubricants in Turkey.

 

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