OMV AG — M&A Activity 1998

Oct 12, 1998

News Details

Ad-hoc | 12 October 1998 14:09

Ad hoc-Service: OMV AG OMV Successful acquisition

—————————————————————— Ad hoc-Service: OMV AG OMV Successful acquisition Ad hoc-announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— News Release OIL GAS CHEMICALS PLASTICS For immediate release Monday 12 October 1998 http://www.omv.com OMV Successful acquisition of retail network in the Czech Republic and Slovakia OMV Group’s wholly owned subsidiaries, OMV Czeská republika s.r.o., based in Prague, and OMV Slovensko s.r.o., based in Bratislava, today announce the successful acquisition of BP’s Czech and Slovak retail network. It comprises 14 sites in the Czech Republic and one filling station in Slovakia. The acquisition will be effective as of 1 December 1998. Both parties have agreed not to disclose the financial details of the transaction. The stations are of top quality and are a perfect geographic fit with OMV’s existing network. They are, on average, three years old and meet OMV’s environmental standards. The sites will be re-branded as OMV filling stations within the next six months. All are equipped with convenience stores. The acquisition is in line with OMV’s expansion strategy in East- Central Europe. It will increase OMV’s market share to 9% in the Czech Republic and to 17% in Slovakia. The total number of OMV filling stations will increase to 97 in the Czech Republic and 50 in Slovakia. The BP retail staff will be offered employment with OMV’s organization. OMV is the leading marketing player in Austria, and it sells about one-third of the country’s petroleum products. In addition to its activities in the Czech and Slovak Republic, OMV is also developing its network in Hungary, Slovenia, Croatia, Northern Italy and Bavaria. Its strategic aim is to become one of the top three players in the neighboring East-Central European countries. – Ends – For further information, please contact: OMV Brigitte H. Juen, Investor Relations Tel. 00 431 40440 1622; e- mail: investor.relations@omv.com Hermann Michelitsch, Press Office Tel. 00 431 40440 1660; e-mail: hermann.michelitsch@omv.com Internet home page: http://www.omv.com Ludgate Communications Carolyn St Aubyn, London Tel: 0044 171 253 2252 Erin Burke, New York Tel: 001 212 688 5144 Next results announcement: January to September 1998 17 November 1998 End of Message