Central European oil giant OMV has reportedly bought an additional 3.6 million shares in Turkish fuel retail firm Petrol Ofisi, bringing its interest in the company to 36.43%, Thompson Financial News has reported.
The prior 35.4% interest in Petrol Ofisi, which OMV jointly controls with Turkey’s Dogan Sikretler Grubu Holding, was increased to 36.43% for a total consideration of E10.76 million ($14.3 million), Thompson Financial News revealed.
Nevertheless, Austria-based OMV said that, despite the increased stake, its voting rights in Petrol Ofisi, which is reported to be Turkey’s biggest petrol station chain, have not increased.
This is not a takeover attempt, OMV spokesman Thomas Huemer revealed to Thomson Financial News. It just reflects our trust in the company, and if the price is appropriate we buy small amounts of shares.
According to the Turkish Daily News, OMV posted the official notification with the Istanbul Stock Exchange on August 18, 2007.