March 14, 2017
Balcıoğlu Selçuk Akman Keki Attorney Partnership (“BASEAK”) advised OMV in connection with the sale of all of its shares in the Turkish mineral oil distribution company OMV Petrol Ofisi A.Ş. to Vitol Group. The total purchase price of the transaction amounts to €1,368 million.
BASEAK performed the vendor due diligence, assisted OMV in drafting and revising the share purchase agreement and signing formalities. The closing of the transaction is expected to occur in the third quarter of 2017 and is subject to conditions, including the relevant regulatory approvals.
This deal is likely one of the largest Austrian M&A transactions in year 2017. A long-standing client of our Firm, Austrian energy giant OMV purchased Doğan Holding’s stake in Petrol Ofisi for more than €1 billion (approx. US$1.4 billion) in 2010 and BASEAK team, led by Dr. Selim Keki, represented OMV AG also on this landmark deal, which was the largest energy acquisition of that year.
Cerha Hempel Spiegefeld Hlawati acted as the Austrian transaction counsel for OMV. As further legal advisors Matthias Wolf and Hans-Jakob Diem, both Lenz & Staehelin (Swiss law) acted for OMV.
BASEAK team was led by Senior Partner Dr. Selim Keki. Senior Partner Şahin Ardıyok and Senior Associate Belit Polat also assisted the team in regulatory matters.
About Balcıoğlu Selçuk Akman Keki
Balcıoğlu Selçuk Akman Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 75-plus lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.