By OGJ editors
HOUSTON, Mar. 14 -- OMV AG, Vienna, reported Friday it would acquire 141 retail stations from Austria's Avanti for an undisclosed sum. The outlets, located in Austria, the Czech Republic, Slovakia, and Bulgaria, will strengthen OMV's market ownership in the Danube area in eastern and central Europe, which are already core regions for the company, OMV said.
The transaction also will optimize OMV's supply position of its Schwechat refinery in Austria, near Vienna, the company noted, as well as boost its total retail network to 1,756 stations. The Avanti stations lie within the supply area of the Schwechat refinery.
Of the stations being acquired, 109 are in Austria, 11 in the Czech Republic, 20 in Slovakia, and 1 in Bulgaria. The acquisition will increase OMV's market share in these countries to 21%, 11%, 18%, and 10%, respectively.
"OMV aims to increase its market share in the Danube area to 20% by 2008," the firm said, adding that through the recent acquisition of 313 retail stations from BP PLC, OMV could increase its market share in eastern and central Europe to 12%.
