OMV acquire 54.17% in Petrol Ofisi to increase its share to 95.75%
On 22 October 2010, OMV announced its acquisition of a 54.17% share in Petrol Ofisi for a cash consideration of US$1.4 billion. The deal increases the OMV share in Petrol Ofisi from 41.58% to 95.75%. The acquisition is expected to close within three months of the announcement date and is subject to the necessary shareholder and regulatory approvals. The effective date of the deal is assumed to be 1 January 2011.Petrol Ofisi is primarily a fuel and oil products distributor, the largest in ...