Vitol Group €1.37 billion acquisition of OMV Petrol Ofisi

Overview:

• Austrian oil company OMV has sold its Turkish petrol station chain OMV Petrol Ofisi to the Swiss-based Vitol Group for €1.368 billion.
• The target runs 1,709 filling stations, approximately 23% of the Turkish market, and also maintains extensive storage and logistics facilities for the oil industry with a capacity of more than a a million cubic metres.
• Following the sale, OMV is left with approximately 2,100 filling stations remaining, operating in 10 countries.

Jon Moore - Journalist