BAKU, Azerbaijan, Feb.15
By Leman Zeynalova – Trend:
Austrian OMV Group is selling 120 petrol stations in Slovenia, where it operates filling stations under the brands OMV, Eurotruck, Avanti and Diskont, Trend reports citing the group.
Polish PKN Orlen, Hungarian MOL, Azerbaijan’s state oil company SOCAR and the Russian Lukoil are showing interest in buying those assists, according to Slovenian media.
In March 2020, OMV, the international, integrated oil and gas and chemical company headquartered in Vienna, announced a disposal program of EUR 2 bn until the end of 2021. The company made great progress in 2020 and was able to sign agreements for the three assets of the first divestment package: the sale of the 51% stake in the gas logistics subsidiary Gas Connect Austria, the sale of the OMV filling station business in Germany and the sale of the Upstream business in Kazakhstan. The closing of all three divestments is expected in 2021 - subject to the required regulatory approvals. In total, the first package will lead to a substantial deleveraging effect of more than EUR 1 bn.
Recently, OMV has announced a second package with two divestments:
The divestment of OMV’s business in Slovenia, where OMV currently operates 120 filling stations under the OMV, Eurotruck, Avanti and Diskont brands. With its limited integration within the Downstream oil value chain, the divestment of this business represents a further step in OMV’s portfolio optimization.
OMV’s subsidiary Borealis has decided to start a process of divesting its nitrogen business unit including fertilizer, technical nitrogen and melamine products. The company’s share in fertilizer production sites in The Netherlands and Belgium (“Rosier”) is not presently being considered within the potential sales process. Borealis will continue to focus on its core activities of providing innovative solutions in the fields of polyolefins and base chemicals, thus extending OMV’s value chain towards higher value chemical products and the transformation towards a circular economy.
---
Follow the author on Twitter: @Lyaman_Zeyn