Dogan and OMV negotiating sale of Petrol Ofisi shares

Turkey’s Doğan Holding has begun talks with its Austrian partner OMV to discuss the sale of part or all of its 54 percent stake in fuel retailer Petrol Ofisi (POAŞ), the two companies announced on August 5. A continuation of the existing partnership may be a possible outcome of the negotiations. OMV and Doğan referred to their stable partnership in Petrol Ofisi and added that there are no time limitations but only the intention to optimize the respective portfolios.

Rumors that OMV was planning to buy out its partner and Dogan’s claims last May that it didn’t plan on selling any of its shares in POAS to OMV are being put to the test by these negotiations. A tax dispute between Dogan Holding and the government in the Spring battered Dogan shares.

Source: Today’s Zaman


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