OMV and MOL Group Reach Agreement for MOL Group to Acquire OMV Slovenia

Source Press Release
Company MOL GroupINA GroupOMV Group 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date June 08, 2021

OMV, the international, integrated oil, gas and chemicals company headquartered in Vienna, Austria, and MOL Group, a leading international, integrated oil and gas company headquartered in Budapest, Hungary, announced the agreement for MOL Group to acquire OMV Slovenia. The agreement encompasses 120 filling stations as well as OMV’s wholesale business in Slovenia. The transaction is subject to required regulatory approvals and closing is expected in 2022.  

The agreed purchase price amounts to EUR 301 mn (100% share). As part of the agreement, MOL Group will assume outstanding lease liabilities resulting in a total enterprise value for the business of approximately EUR 346 mn. The purchase price is subject to customary net working capital and net debt adjustments.  

This transaction will reduce OMV’s debt by approx. EUR 290 mn before consideration of taxes from OMV’s perspective (92.25% share), which will have a positive impact on OMV’s gearing. 

“With this, we are taking another decisive step towards implementing our 2-billion-euro disposal program. This divestment not only contributes significantly to our deleveraging, it also means a further strategic optimization of our portfolio,” says Rainer Seele, Chairman of the Executive Board and CEO of OMV.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd