Vitol completes acquisitio­n of Turkey’s Petrol Ofisi

Dünya Executive - - OVERVIEW -

VIP Turkey Enerji AS, a subsidiary of Vitol Investment Partnershi­p Ltd has completed its acquisitio­n of OMV Petrol Ofisi Holding A.S (“Petrol Ofisi”) from OMV AG., the company announced. The transactio­n was first announced on 3 March 2017. “We will work closely with the Petrol Ofisi management team and employees to energise our brand, strengthen our dealer relationsh­ips and serve our clients and customers in the best way possible. Vitol has a history of investing to grow businesses and this is a tremendous opportunit­y to refocus Petrol Ofisi for the future,” Javed Ahmed, head of investment­s, at Vitol and chairman of Petrol Ofisi, said in a statement. Petrol Ofisi is the market leader in fuel products and distributi­on in Turkey with a market share of circa 23%. Its business comprises the largest retail station network, with more than 1,700 service stations, and the largest fuel storage and logistics business in Turkey, with a total storage capacity in excess of 1 million cubic meters, It is Turkey’s leading distributo­r of lubricants and the into-wing supply of jet

fuel at 20 airports. The total sales volume in 2016 was 10.68 million tonnes.

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