09-08-09 Austrian oil company OMV has announced that it is engaged in negotiations regarding the acquisition of Dogan Holding's stake in Petrol Ofisi.
Petrol Ofisi is a Turkish refined oil products marketing company, active both in retail and commercial business.

OMV entered the Turkish market in 2006 by acquiring 34 % of Petrol Ofisi, and increased its stake to 41.58 % in the following years. Dogan Holding, which owns 54.17 % of Petrol Ofisi, is the other major shareholder of the company.
OMV and Dogan referred to their stable partnership in Petrol Ofisi and added that there is no time pressure on any side but only the intention to optimise the respective portfolios.

Both partners also stated that a continuation of the existing partnership may also be a possible outcome of the negotiations.
To strengthen its presence in Turkey would be consistent with OMV's strategy to optimize its position in markets with substantial mid- and long-term growth rates in Central and south-eastern Europe.