Vienna (dpa) – The Austrian energy group OMV is selling its German filling station network to the British EG Group for 485 million euros. The deal should be completed in 2021, subject to the necessary regulatory approvals, OMV announced on Monday. 285 filling stations in southern Germany with a focus on Bavaria and Baden-Württemberg are changing hands.
OMV wants to concentrate its activities in Germany on petrochemicals in the Burghausen refinery. “We are taking another decisive step in our announced divestment program of two billion euros and with this sale we are realizing a debt relief effect for OMV of around half a billion euros at the time of closing,” said OMV boss Rainer Seele about the sale.
With a group turnover of around 23 billion euros and 20,000 employees, OMV is one of the largest listed industrial companies in Austria. The state-owned group is also one of the investors in the controversial Nord Stream 2 gas pipeline.
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