OMV AG to Divest 45% Stake in Bayernoil Raffinerie GmbH by 2014-Dow Jones Global Equities News


Wednesday, 21 Nov 2012 04:42am EST 

Dow Jones Global Equities News reported that OMV AG will divest its 45% stake in the German refinery Bayernoil Raffinerie GmbH by 2014, according to material presented by OMV AG at its London media summit. OMV AG announced in January 2012 that it would focus its refinery business on refineries with integrated petrochemical or upstream operations, which Bayernoil Raffinerie GmbH does not have. OMV AG said then it was evaluating the stake. A month ago, OMV AG's Chief Executive Mr. Gerhard Roiss told Dow Jones Newswires that they were in talks to divest the stake, but declined to comment further. 

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