EANS-Adhoc: OMV Aktiengesellschaft / OMV closes acquisition of 54.14% in Petrol Ofisi

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OMV / Oil / Gas / Austria

22.12.2010

Update to an already disclosed ad hoc announcement

• Closing of purchase transaction • OMV becomes clear majority
shareholder in one of the leading companies in the Turkish oil
products retail and commercial business • OMV remains committed to
maintaining a strong investment grade credit rating

Today, on December 22, 2010, OMV, the leading energy Group in the
European growth belt, completed the acquisition of a 54.14% stake in
Petrol Ofisi A.S., one of the leading companies in the Turkish oil
products retail and commercial markets following the approval of the
transaction by the relevant authorities including anti-trust
clearance (refer to EANS ad hoc announcement of October 22, 2010).
With this transaction OMV increases its stake in Petrol Ofisi from
41.58% to 95.72%, thereby fully consolidating the company within the
OMV Group. The purchase price paid today for Dogan Holding's 54.14%
stake in Petrol Ofisi A.S. amounts to EUR 499.7 mn and USD 694.6 mn.
OMV has hedged the USD component. Prior to completion, Petrol Ofisi
A.S. paid a dividend in Turkish Lira equal to USD 203 mn to OMV, USD
265 mn to Dogan Holding and USD 21 mn to free float shareholders.
Closing of the transaction triggers a mandatory tender offer to free
float investors in Petrol Ofisi which will be executed according to
Turkish laws and regulations in January 2011.

OMV enjoys a strong balance sheet, with a sound liquidity position
and a gearing ratio consistent with its long-term target. The
transaction consideration will be initially funded with existing cash
and undrawn committed credit lines.

OMV remains committed to strict capital discipline and retains the
clear objective of maintaining a strong investment grade credit
rating. OMV has access to the complete range of debt and equity
instruments to replace part or all of the funds used for the
acquisition, including an appropriate combination of equity and
equity-like sources of capital. OMV currently anticipates executing
this refinancing in the first half year of 2011.

end of announcement euro adhoc
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ots Originaltext: OMV Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: investor.relations@omv.com

Media Relations:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: michaela.huber@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wien / official market