CHSH Cerha Hempel Spiegelfeld Hlawati Rechtsanwälte advised OMV in connection with the sale of all of its shares in the Turkish mineral oil distribution company OMV Petrol Ofisi AS (Petrol Ofisi) to Vitol Group. The total purchase price of the transaction amounts to EUR 1,368 mn.
CHSH has been involved for more than twelve months in the preparation of this deal which has already caught considerable media attention. Vitol was selected as purchaser by OMV after a competitive auction process. The closing of the transaction is expected to occur in the third quarter of 2017 and is subject to conditions, including the relevant regulatory approvals.
The CHSH M&A team under the lead of Clemens Hasenauer, Head of Department Corporate Transactions, acted as Austrian transaction counsel for OMV. Clemens Hasenauer comments:
"This deal is likely one of the largest Austrian M&A transaction in year 2017. It demonstrates particularly well the ability of our dedicated team to assist effectively in a challenging international M&A environment."
The OMV in-house legal team was led by Andreas Aigner, Head of M&A Legal, and Michael Riegler, Senior Counsel M&A Legal. Andreas Aigner: "Good to see that we were able to execute this landmark deal for OMV in the given difficult environment."
Besides Clemens Hasenauer (Partner; Corporate and M&A) the CHSH deal team consisted of Johannes Prinz (Partner; M&A and Tax), Harald Stingl (Partner; Corporate and M&A), Lorenz Pracht (Senior Attorney; Corporate and M&A), Julia Berent (Associate; Corporate and M&A) and Ferdinand Guggenmos (Associate; Corporate and M&A).
As further legal advisors Selim Keki and Tulû Harsa, both Balcıoğlu Selçuk Akman KekiAvukatlık Ortaklığı (Turkish law), were acting for OMV.