OMV sells Bayernoil stake to Vitol-Carlyle JV

VIENNA Thu Dec 19, 2013 3:13am EST

VIENNA Dec 19 (Reuters) - Austrian oil and gas group OMV has agreed to sell its 45 percent stake in Bayernoil, it said on Thursday, sealing a crucial part of its programme to divest downstream assets.

OMV said it had agreed with the buyer - Varo Energy, a joint venture of Swiss oil trading house Vitol and private equity firm the Carlyle Group - not to disclose the sale price for the German refinery network.

The company said it expected the deal to close next year, subject to the non-exercise or waiver of pre-emption rights by the existing co-shareholders, and merger clearance. ($1 = 0.7266 euros) (Reporting by Georgina Prodhan; Editing by Michael Shields)

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