All the European investment, retail, real estate, office and industry news in English language

Tuesday | January 26 | 2021

OMV sold its filling station business in Germany to EG Group

EG Group will acquire OMV filling station business in Germany. The transaction is subject to required regulatory approvals and closing is expected in 2021. 

The purchase price amounts to EUR 485 mn. As part of the agreement, EG Group will assume lease liabilities resulting in a total enterprise value for the business of approximately EUR 614 mn.

The purchase price is subject to customary net working capital and net debt adjustments. 

The agreement encompasses 285 filling stations in southern Germany with focus on Bavaria and Baden-Württemberg, which have only a very limited degree of integration with OMV’s refinery in Germany, as the refinery is specialized in petrochemicals production.

- Advertisment -