Petrolina – 17th Annual General Meeting - CYPRUS MAIL

JULY 4, 2017

Important references to the new infrastructure projects and to the continuous improvements to its petrol stations’ network, as well as to the renewal of its international co-operations were made at the 17th Annual General Meeting of the Shareholders of Petrolina (Holdings) Public Ltd, held in the 28th of June 2017.

The consolidated results of 2016 were presented at the AGM. During the year, the total sales through petrol stations, commercial clients and other petrol companies reached €379,2 million compared to €404,8 million during 2015. The profit before tax reached €6.4 million, compared to €8.3 million in 2015, while the profit after tax reached €5.6 million, compared to €7.2 million in 2015. Based on these results, the profits per share are valued at 6.43 cent compared to 8.23 cent in 2015.

OMV agrees to sell Turkish unit Petrol Ofisi to Vitol for $1.45 billion - REUTERS

Logo of Austrian oil and gas group OMV at Vienna gas station
on November 9, 2016 REUTERS,Heinz-Peter Bader

Fri Mar 3, 2017 | 5:44pm ESTReporting by Maria Sheahan and Shadia Nasralla; editing by Grant McCool

Austrian energy group OMV (OMVV.VI) said it agreed to sell its Turkish fuel supply and distribution unit Petrol Ofisi to Vitol Investment Partnership, managed by the Swiss-based commodities firm Vitol VITOLV.UL, for 1.37 billion euros ($1.45 billion).

Saudi Aramco and the State Oil Company of Azerbaijan (SOCAR) had also placed bids for Petrol Ofisi, sources familiar with the matter said. OMV counted the Turkish petrol station chain as one of its non-core assets it is shedding to generate cash.

Apax buys Ten gas station chain - GLOBES

10 Jan, 2017 17:24
Kobi Yeshayahou

Bank Leumi acquired the shares in Israel's fifth largest gas station chain when Eliezer Fishman went bankrupt.
Apax Partners has acquired an 83% controlling interest in Ten Petroleum Company Ltd. (TASE: TNPT.B1), Israel's fifth largest chain of gas stations, from Bank Hapoalim (TASE: POLI) for NIS 137 million, reflecting a NIS 166 million value for the company.

Businessman Eliezer Fishman owned Ten for many years. Following the deterioration of his business situation over the past two years, his controlling interest in the chain passed to Bank Hapoalim, which tried unsuccessfully to sell it. Three and a half months ago, Advocates Pinhas Rubin and Yaron Elhawi from the Gornitzky & Co. law firm were appointed as receivers for Fishman's shares at the request of the creditor banks. Since then, the process of selling the company has been expedited. In addition to Apax, the Sky fund and Shapir Civil and Marine Engineering Ltd. were also mentioned as showing interest in buying the company.

Total plans to invest $100m in Egypt - ECOFIN AGENCY

Friday, 14 October 2016 - 08:56, Anita Fatunji

(Ecofin Agency) - Total has announced plans to invest $100 million in Egypt in the next five years and also invest more amounts on filling stations, as part of plans to open 10 facilities annually.

According to the company’s Senior Vice President for Africa, Stanislas Mittleman, Total recently invested huge amounts in Borg El Arab factory for lubricant and exported part of its production to Jordan, Lebanon and other African countries.

Mittleman had met with the Egyptian Minister of Petroleum, Tarek El Molla, together with Total’s Managing Director in Egypt, Ian Lepetit, in order to outline the company’s projects in Egypt. El Molla noted that Total is a leading company in Egypt in the areas of marketing petroleum products, setting up filling stations, and manufacturing lubricant.

Trafigura, Vitol Said Among Bidders for OMV Turkey Fuel Unit - BLOOMBERG

Dinesh Nair, Ercan Ersoy
October 10, 2016 — 11:21 AM EDTUpdated on October 11, 2016 — 4:23 AM EDT

• Opet, Socar and private equity firms also said to bid
• Turkey’s Petrol Ofisi sale could fetch about $1.2 billion

OMV AG, central Europe’s biggest oil and gas company, has got initial bids from Vitol SA and Trafigura Group Pte for its Turkish fuel retailer OMV Petrol Ofisi AS, people with knowledge of the matter said.

Opet Petrolculuk AS, the State Oil Co. of the Azerbaijan Republic and private equity firms are also among the companies that made offers, said the people, who asked not to be identified because the process isn’t public. BP Plc and Saudi Arabian Oil Co., known as Aramco, are also weighing bids, the people said.