Middle East Economic Survey


No 44



Austrias OMV Takes Control Of Turkeys Petrol Ofisi For 1Bn

Austrias OMV on 22 October announced that it had taken control of Turkeys number one petroleum products retailer Petrol Ofisi with the purchase of Dogan Holdings 54.17% stake in the company for 1bn. This boosts OMVs shareholding in Petrol Ofisi from 41.58% to 95.75%. This acquisition is a further step in OMVs growth strategy and aims at positioning Turkey as a third hub,...