Bloomberg News

Gazprom Neft Interested in OMV’s Croatian, Bosnian Assets

February 02, 2012

(Adds OMV’s plans to sell units in third paragraph.)

Feb. 2 (Bloomberg) -- OAO Gazprom Neft, the oil arm of the world’s biggest natural-gas producer, is interested in buying OMV AG’s filling stations in Bosnia-Herzegovina and Croatia.

“We will pursue projects if they create added value,” Deputy Chief Executive Officer Vadim Yakovlev said today in St. Petersburg. Gazprom Neft has the “financial capacity” for acquisitions, he said.

OMV, a Vienna-based oil company, said Dec. 6 that it plans to sell its Balkan subsidiaries as it seeks to dispose of 1 billion euros ($1.3 billion) of less profitable assets. The Croatian unit has 63 filling stations and a market share of about 13 percent, while in Bosnia, OMV has 28 filling stations and an 8 percent share, it said in December.

The sale has also attracted interest from OAO Zarubezhneft, a Russian oil-pipeline operator, which said last month that it had submitted an offer for the filling stations in Bosnia- Herzegovina and Croatia.

Gazprom Neft isn’t interested in buying Petroplus Holding AG’s plants in Europe, Yakovlev also said. Zug, Switzerland- based Petroplus filed for insolvency last week.

--With assistance from Zoe Schneeweiss in Vienna. Editors: Amanda Jordan, Alex Devine

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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