Austria’s OMV to divest fuel retailing business in Slovenia
OMV currently operates in Slovenia 120 filling stations under the OMV, Eurotruck, Avanti and Diskont brands.
Austria's OMV plans to divest its fuel retailing business in Slovenia as part of a 2 billion euro ($2.4 billion) asset disposal programme aimed to reduce its gearing ratio, the company announced. The divestment of OMV’s business in Slovenia includes 120 filling stations under the OMV, Eurotruck, Avanti and Diskont brands.
In the first divestment package, EG Group acquired OMV’s petrol stations in Germany for €485 million.
With its limited integration within the downstream oil value chain, the divestment of this business represents a further step in OMV’s portfolio optimization, the company said in a statement.
“We are well on our way to deliver on our decisive disposal program, and with this second divestment package OMV is taking another big step towards fulfilling our promise to deleverage quickly”, said Rainer Seele, Chairman of the Executive Board and CEO of OMV.
OMV will announce a third package of divestments later this year. With the disposal program, the company intends to reduce its gearing ratio excluding leases to around 30% by the end of 2021.
OMV operates about 2,100 filling stations in ten European countries and runs gas storage facilities in Austria and Germany.
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