Saudi Aramco Said Among Second-Round Bidders for OMV Turkey Unit

11 Nov 2016   Saudi Arabia, Turkey

Aramco said to have hired HSBC to advise on potential deal Azerbaijan’s Socar and Opet Petrolculuk also said to bid Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter. HSBC Holdings Plc is advising the Saudi company on the potential acquisition of Istanbul-based OMV Petrol Ofisi AS, Turkey’s largest seller of petroleum products, two of the people said, asking not to be named because the talks are private. State Oil Company of Azerbaijan, or Socar, is also bidding, two of the people said. Opet Petrolculuk AS, a joint venture of Koc Holding and Turkey’s Ozturk family is bidding as well, one person said. OMV, which bought Petrol Ofisi for more than $2.5 billion in a series of transactions between […]

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