Vitol’s operating arm in Turkey has acquired OMV Petrol Ofisi Holding for €1,368 million.
VIP Turkey Enerji, a subsidiary of Vitol Investment Partnership, has acquired the assets from OMV. Petrol Ofisi is the market leader in fuel products and distribution in Turkey, with a market share of 23%.
Its assets comprise the largest retail station network of over 1,700 service stations and the largest fuel storage and logistics business in Turkey, with total storage capacity in excess of one million m3.
Ian Taylor, Vitol’s president and CEO, says: ‘This is a strong business in a growing market. Its market leading brand has benefitted from OMV’s focus on high standards of HSSE. We are committed to maintaining this excellent track record and greatly look forward to working with the Petrol Ofisi team to capitalise on Turkey’s strong economic performance and growing demand for energy products.’