CHSH and Balcioglu Selcuk Akman Keki Avukatlik Ortakligi have advised OMV in connection with the sale of all of 100% of its shares in Turkish mineral oil distribution company OMV Petrol Ofisi AS to Vitol Group. Kolcioglu Demirkan Kocakli worked with Hengeler Mueller in advising the Vitol Group, which was selected as purchaser by OMV after a competitive auction process, on the sale. The total purchase price of the transaction amounts to EUR 1.368 million, and closing is expected to occur in the third quarter of 2017, subject to conditions including the relevant regulatory approvals.
CHSH Partner Clemens Hasenauer, who led his firm's team on the deal, described it as "likely one of the largest Austrian M&A transactions in 2017."
Hasenauer was supported by CHSH Partner Johannes Prinz, Harald Stingl, Senior Attorney Lorenz Pracht, and Associates Julia Berent and Ferdinand Guggenmos. The OMV in-house legal team was led by Andreas Aigner, Head of M&A Legal, and Michael Riegler, Senior Counsel M&A Legal. Aigner commented that it was "good to see that we were able to execute this landmark deal for OMV in the given difficult environment."
The Balcioglu Selcuk Akman Keki Avukatlik Ortakligi team consisted of Partners Selim Keki and Sahin Ardiyok and Counsel Tuluu Harsa.
The Kolcuoglu Demirkan Kocakli team was led by Partner Umut Kolcuoglu and Senior Associate Begum Incecam.
Hengeler Mueller declined to comment.
Editor's Note: On June 17, 2017, Kolcioglu Demirkan Kocakli informed CEE Legal Matters that the deal had closed on June 13, 2017.