On June 30, 2023, Schoenherr announced that OMV’s sale of OMV Slovenija to MOL (as reported by CEE Legal Matters on June 17, 2021) had closed.
According to Schoenherr, “the initial purchase price received at closing amounts to EUR 311 million (for a 92.25% OMV stake) to be adjusted for the actual net working capital and net financial debt at closing. The sale and transfer encompassed OMV's retail and wholesale business in Slovenia.”
According to the firm, “following an in-depth investigation of the Slovenian retail fuel market, the European Commission cleared the transaction upon condition that certain filling stations would be divested. The transaction was closed on June 30, 2023.”
OMV Slovenija focuses on the retail sale of motor fuel. OMV Slovenija is also active in the fuel wholesale markets and in the wholesale supply of bitumen and heating oil.
OMV is globally active in upstream and downstream oil and gas activities as well as in petrochemicals and plastics recycling.
MOL, headquartered in Hungary, is the parent company of the MOL Group, an integrated oil and gas group whose principal activities are the exploration, production, and refining of crude oil as well as the distribution of refined oil products.
As previously reported, Baker McKenzie and Rojs, Peljhan, Prelesnik & Partners advised MOL, while Schoenherr advised OMV.
According to Baker McKenzie, “the transaction includes 120 service stations across Slovenia under three brands: OMV (108); EuroTruck (4); and Avanti / Diskount (8). The MOL Group and INA will become the 100% owner of the wholesale business of the acquired company, as well.”
The updated Schoenherr team included Austria-based Partners Markus Piuk and Franz Urlesberger, Attorneys Alfred Amann and Bianca Duca, and Associates Irina Hanin and Alexandra Jelinek; Slovenia-based Partners Vid Kobe and Eva Skufca, Attorneys Peter Gorse, Eva Mozina, and Tisa Ljubetic, and Associate Borce Malijanski; and Hungary-based Partner Kinga Hetenyi.
The Baker McKenzie team in Budapest was led by Partner Akos Fehervary and Senior Attorney Daniel Orosz, supported by a Vienna-based team that included Partner Gerhard Hermann.
The Rojs, Peljhan, Prelesnik & Partners team was led by Partner Gregor Pajek.
Editor's Note: After this article was published, Baker McKenzie announced its updated team composition in Hungary: Partners Akos Fehervary, Marton Horanyi, and Zoltan Barakonyi and Associates Daniel Orosz and Noemi Kalmar.