OYAK to Acquire M Oil and Güzel Enerji

Source Company Press Release
Company OYAK
Tags Country: Turkey, Downstream: Refining, M&A: Corporate Deal, Deals
Date February 28, 2020

Evaluating new opportunities meticulously outside its areas of activity and progressing rapidly in the sectors it invests in, OYAK has made an application to the Competition Authority to take over Güzel Enerji (TOTAL Oil Turkey) and M Oil from  Demirören Holding.

In line with its policy of positioning in the areas that will bring an integrated growth with the operating sectors, OYAK -Turkey's largest occupational pension fund- will further increase its commercial profitability, competitive strength, and the added-value it creates, and continue its sustainable growth.

Foreseeing the transformation and the potential in the energy sector, OYAK continues negotiations with  Demirören Holding for the acquisition of Milangaz, the leading company in the autogas, cylinder LPG, and bulk LPG market.  OYAK aims to be one of the major players in the fuel oil and autogas sector, which directly affects more than 30 main sectors and provides direct employment to approximately 150,000 people.

With the vision of offering privileged and advantageous services to its members, OYAK will continue to use its members' savings for productive investments and be a partner in our country's growth and job creation goals.

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