30 November 2012 13:45 [Source: ICIS news]
LONDON (ICIS)--OMV has agreed to sell its downstream marketing subsidiary in Bosnia-Herzegovina to ?xml:namespace>
The divestment is part of OMV’s strategy to shift its portfolio away from refining and marketing towards exploration and production.
Following the completion of this transaction, expected in the first quarter of 2013, OMV will have no further activities in Bosnia-Herzegovina, it added.
Last year, OMV Petrol Ofisi, OMV’s Turkish subsidiary, sold its 52% stake in the Cypriot retail company Kibris Turk Petrolleri Limited Sirketi. Meanwhile, in Romania OMV Petrom announced in June 2012 the sale of its subsidiary Petrom LPG.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections