OMV

OMV mulling complete withdrawal from Croatia and Bosnia

  • Autor: Radio.net
  • Zadnja izmjena 06.12.2011 12:40
  • Objavljeno 06.12.2011 u 12:37
omv

omv

Izvor: Cropix / Autor: Cropix

OMV is considering selling its commercial businesses in Croatia and Bosnia and Herzegovina and completely withdrawing from the two markets, the Austrian oil company announced in a statement on Tuesday.

"In line with the OMV strategy, the sale of the retail and commercial business in Croatia (OMV Hrvatska d.o.o) and Bosnia-Herzegovina (OMV BH d.o.o) is under consideration. This would involve a total withdrawal from both markets," the statement said.

OMV said it aimed to gradually shift its portfolio away from Refining and Marketing towards Exploration and Production, and Gas and Power.

"OMV will continue focusing the retail and commercial business on markets with integrated supplies. Croatia and Bosnia-Herzegovina do not fit optimally into the OMV supply chain therefore now options for selling these two subsidiaries are under examination," it said.

"Discussions with potentially interested parties will start in the next few months. OMV assumes that the buyer will continue to operate the companies in Croatia and Bosnia-Herzegovina on the same scale as before. At the same time the structure of the total potential divestments in the business segment Refining and Marketing, which could reach up to EUR 1 bn by 2014 and involves reducing refining capacity and marketing assets, will be decided. Currently no further market exits from countries with OMV filling stations are planned."

OMV has been in the retail and commercial business in Croatia since 1992. OMV Hrvatska d.o.o employs 70 staff members at its head office in Zagreb. With 63 filling stations in the country, OMV currently has a market share of around 13%.

In Bosnia and Herzegovina, OMV has been in the retail and commercial business since 2001. There are 23 employees in the head office of OMV BH d.o.o in Sarajevo. The market share in the country is around 8% from 28 filling stations, the company said.

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