Vitol Closes Deal for Purchase of Petrol Ofisi Filling Station Network in Turkey

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The transaction on selling OMV company’s network of filling stations in Turkey and its subsidiary Petrol Ofisi to the Netherlands’ Vitol has been closed. Turkish media reported June 13.
The total value of the transaction is 1.368 billion euros.
Austrian OMV company agreed to sell 100 percent of shares of its subsidiary OMV Petrol Ofisi to VIP Turkey Enerji AS. which is a subsidiary of Vitol Investment Partnership Ltd. at 1.368 billion euros in March.
The transaction is expected to be closed after the issuance of the relevant permissions in the third quarter of 2017.
Azerbaijan’s State Oil Company SOCAR participated in the tender for the acquisition of Petrol Ofisi.