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  • Sale of OMV filling station business in Germany to EG Group closed
    édité le 03/05/2022 - Plus de news de "OMV" - Voir la fiche entreprise de "OMV"

Sale of OMV filling station business in Germany to EG Group closed
OMV and EG Group have concluded the transaction in which OMV sold its filling station business in Germany to EG Group.

OMV, the international integrated oil, gas and chemicals company, headquartered in Vienna, and EG Group, a leading global independent filling station operator, have completed the sale of OMV’s filling station business in Germany to EG Group with effect from May 1, 2022. The agreement covers the sale of 285 filling stations in southern Germany, with a focus on Bavaria and Baden-Württemberg.

Previously, the condition of the clearance decision by the German Federal Antitrust Office was met with the conclusion of sales agreements for 48 filling stations (of which 24 ESSO and 24 OMV) in Baden-Wuerttemberg and Bavaria.

The agreed purchase price amounts to EUR 485 mn. As part of the agreement, EG Group will assume any outstanding lease obligations. The purchase price reflects an enterprise value of approximately EUR 614 mn and is subject to the adjustment of customary net working capital and net debt adjustments.

OMV’s filling station business in southern Germany, with a focus on Bavaria and Baden-Württemberg, was only partially integrated into OMV’s Burghausen Refinery in Germany as the refinery specializes in petrochemical products. OMV will continue to focus its remaining activities in Germany on highly integrated petrochemicals and developing this value chain in Burghausen.

The divestment of OMV´s filling station business in Germany will deliver debt relief of approximately half a billion euros for OMV. This marks the successful realization of an important step in OMV’s divestment program.#

About OMV Aktiengesellschaft

With Group sales revenues of EUR 36 bn and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies.

In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe.

OMV’s Refining & Marketing business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 2,100 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe where it also operates a gas-fired power plant in Romania. In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific.

Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%). As of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.

OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.

About EG Group

EG Group is one of the world’s leading independent convenience retailers with an extensive network of sites across international markets in the United Kingdom & Ireland, Continental Europe, Australia and the United States of America.

Origine : Communiqué OMV

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