OMV AG — M&A Activity 2002

Sep 19, 2002

News Details

Ad-hoc | 19 September 2002 10:12

OMV AG english

OMV acquires 25.1 %of The Rompetrol Group Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– – In line with strategy to increase market share in core Danube region – Improved positioning of OMV in Romania – Acquisition of strategically located Petromidia refinery OMV Group, the Central European oil and gas group, announces that it has signed today in Bucharest an agreement to acquire a 25.1% interest in The Rompetrol Group, NV, the largest private oil operator in Romania. The deal includes a number of assets in Romania, most notably Rompetrol’s Petromidia refinery on the Black Sea coast with access to the Danube. The parties have agreed that the sale price is not being disclosed. The Rompetrol Group NV (TRG) is a Netherlands-based integrated oil and gas company with the bulk of its operations and assets located in Romania. TRG is the largest private operator in the refining and marketing segment in Romania, second only to Government-owned SNP Petrom. 71% of TRG are currently held by its senior managers Dinu Patriciu (CEO) and Philip Stephenson (Deputy CEO) and the remaining 29% are owned by the Romania and Moldova Direct Fund, LP, a USmanaged private equity fund. As a whole, TRG’s 2001 IAS audited revenues were USD 668 million and net profit was approximately USD 15 million. Among other interests, TRG owns the refineries Petromidia (Navodari) and Vega (Ploiesti) with a combined nameplate processing capacity of 110,000 bbl/d; a countrywide wholesale business including four tank farms; a retail network of 127 filling stations (out of which 28 owned, 5 rented and 94 colour contracts); and its own maintenance, logistics, and ecological services companies. Rompetrol’s flagship company is Petromidia SA, which owns and operates the Petromidia refinery. Petromidia is Romania’s only refinery located on the Black Sea coast, with access to the Danube, and was built between 1975 and 1977 and modernized in the early 1990s. It has a crude oil distillation capacity of up to 4.8 mn tons per year. end of ad-hoc-announcement (c)DGAP 19.09.2002 ——————————————————————————– WKN: 874641; ISIN: AT0000743059; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt in Frankfurt und Hamburg; Freiverkehr in Berlin, Hamburg und Stuttgart 191012 Sep 02