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Austria OMV to sell downstream Bosnia marketing ops to Serbia's NIS

ICIS News : 30-Nov-12 13:45

LONDON (ICIS)--OMV has agreed to sell its downstream marketing subsidiary in Bosnia-Herzegovina to Serbias integrated oil firm NIS, the Austria-based energy and petrochemicals firm said on Friday.

The divestment is part of OMVs strategy to shift its portfolio away from refining and marketing towards exploration and production.

NIS will take over 22 employees, a fuel terminal and 28 filling stations as well as a local OMV head office in Sarajevo.

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, OMVs 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.

By Stefan Baumgarten
+1 713 525 2653

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