Die OMV and EG Group, an independent service station operator, have completed the sale of OMV’s service station business in Germany to EG Group. The contract covers the sale of 285 gas stations in southern Germany, with a focus on Bavaria and Baden-Württemberg.
Previously, the condition of the approval decision of the German Federal Cartel Office was met with the conclusion of sales contracts for 48 gas stations (including 24 Esso and 24 OMV locations) in Baden-Württemberg and Bavaria. OMV had to sell 23 gas stations to other market participants, Esso 25. The Federal Cartel Office had to approve these purchasers beforehand.
“We have ensured that there will still be enough alternatives to the leading brand petrol stations for local drivers in the future,” said the head of the Cartel Office. “Consumers can use the data from the Market Transparency Unit to compare prices. It pays off to use a tank app and go to the cheaper gas stations, especially in times of high prices.”
The agreed purchase price is EUR 485 million. As part of the agreement, EG Group will assume outstanding lease obligations. The purchase price results in an enterprise value of around EUR 614 million and is subject to the adjustment of net working capital and net financial liabilities.
