OMV has sold Petrol Ofisi, its Turkish fuel supply and distribution unit, to Vitol for $1.45bn. The overall transaction value amounts to €1,368m, of which €81m relates to net cash proceeds from a prior carve-out of OMV’s Turkish gas entities. The transaction is subject to conditions, including the relevant regulatory approvals and is anticipated to close in Q3 17 at the latest. Based on the purchase price, OMV will record a further impairment of €186m in its Q4 16 financi
05 Mar 2017
OMV sells Petrol Ofisi for $1.45bn
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OMV sells Petrol Ofisi for $1.45bn
OMV AG (OMV:WBO) | 0 0 1.2% | Mkt Cap: 15,591m
- Published:
05 Mar 2017 -
Author:
Alexandre Andlauer -
Pages:
2
OMV has sold Petrol Ofisi, its Turkish fuel supply and distribution unit, to Vitol for $1.45bn. The overall transaction value amounts to €1,368m, of which €81m relates to net cash proceeds from a prior carve-out of OMV’s Turkish gas entities. The transaction is subject to conditions, including the relevant regulatory approvals and is anticipated to close in Q3 17 at the latest. Based on the purchase price, OMV will record a further impairment of €186m in its Q4 16 financi