The Austrian oil company OMV has reported that it is selling its Italian subsidiary OMV Italy, which has a network of 99 gas stations in the Triveneto region (Northern Italy), to the wholesale oil company S.r.L. San Marco Petroli.
"The main focus of OMV’s gas station business will be, in line with the growth strategy, in the Danube region, Southeast Europe, and the Black Sea region," the Austrian company stated in a press release. OMV emphasizes that it has signed an agreement for the sale of OMV Italia S.r.L to the oil company San Marco Petroli, headquartered in Porto Marghera (Venice). Following prior approval from the Italian competition authorities, the completion of the transaction is planned for the beginning of 2010, OMV stated, adding that the purchase amount has been mutually agreed to remain confidential. They also note that the Italian oil company is one of the largest suppliers to OMV Italy and will continue to manage its network of gas stations. OMV has been active in Italy since 1991 exclusively through gas station operations, and in 2008, OMV’s market share was approximately 3 percent in Northern Italy and 0.4 percent at the national level. The Austrian company announced in February of this year its withdrawal from the Italian market as part of a broader restructuring process of OMV’s network of gas stations and the sale of its Italian subsidiary by the end of this year. (H)
