News listings
Equatorial Guinea Licence Round

energy-pedia general news

Austria flagAustria

Europe / Caspian / CIS >>> Austria

Austria: OMV finalizes Bayernoil acquisition

01 Jul 2003

OMV AG yesterday announced it has finalized the company's Eur377 million Bayernoil acquisition. The acquisition includes a 45%-stake in the Bayernoil refinery, an 18% stake in the Transalpine Pipeline and a network of retail stations in Germany, Hungary and Slovakia, which OMV bought from BP PLC. The closing for this acquisition, that was announced in February this year, is effective as of July 1, following the unconditional approval of the European Union Commission in June and the earlier approval of the cartel offices in April 2003. At a purchase price of Eur377 million, this is the largest acquisition in OMV's corporate history. The company will increase its debt by EUR130 million to finance the deal. With this acquisition, the number of OMV's filling stations in central and eastern Europe rises to 1,736, representing a market share of 12%. The company's target remains to increase the market share to 20% by 2008. With the acquisition of the refinery, OMV's refining capacity in Bavaria rises by 5.4 million metric tons to 8.8 million tons a year. Furthermore, the company said the acquisition of an additional 18% stake in the Transalpine Pipeline increases OMV's share in one of the most important oil pipelines from the Mediterranean to northern Europe to 25%. Source: OMV

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current deals: 1688
Completed deals: 5158

Company Profiles

Current Company Profiles: 2634

Corporate Activity

Current Corporate Activity articles: 3255

Companies Looking

Current number of articles: 425

Company Sales

Current Company Sales articles:1348


Current Geostudies articles: 633

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Government of South Australia
Union Jack Oil 149
KL Publishing
Rose & Assocs 149
EP Consult Energies
count geophysics
SLR Consulting logo
RSK Logo 149
Lynx Information Systems
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675