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

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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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.

Further inquiry note:
OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: [email protected]

Media Relations:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: [email protected]

Internet Homepage: http://www.omv.com
end of announcement euro adhoc
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issuer:      OMV Aktiengesellschaft
             Trabrennstraße  6-8
             A-1020 Wien
phone:       +43 1 40440/21600
FAX:         +43 1 40440/621600
mail:        [email protected]
WWW:         http://www.omv.com
sector:      Oil & Gas - Downstream activities
ISIN:        AT0000743059
indexes:     ATX Prime, ATX

stockmarkets: official market: Wien
language: English

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