Ad-hoc report - Petrom and OMV Romania together will exchange 11 filling stations against 30 filling stations from MOL
In compliance with Law nr. 297/2004 and Regulation no. 1/2006 of CNVM
Date of report : April 6, 2006
Name of issuer : PETROM S.A.
Headquarters : Bucharest, Calea Dorobantilor nr. 239 sector 1
Telephone/fax number : 021 4060101/021 4060436
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute : R
Trade Register Number: J 40/8302/1997
Share capital: 5,600,050,607.8 RON
Regulated market on which the issued shares are traded : Bucharest Stock Exchange
Significant event to be reported:
- Petrom and OMV Romania together will exchange 11 filling stations against 30 filling stations from MOL
- 100% of MOL Romania Aviation acquired by Petrom
Petrom has concluded a contract with MOL for the taking over of 30 filling stations. As part of the transaction, MOL will receive 11 Petrom and OMV Romania gas stations. Petrom will pay the difference, an amount which the partners agreed not to disclose. At the same time, Petrom acquired 100% stake in MOL Romania Aviation.
This transaction is part of Petrom’s continuing efforts to optimize the network of filling stations.
The closing of the transaction is subject to certain conditions precedent including the clearance of the Competition Council.
Out of the newly acquired filling stations 15 are located in Bucharest while the rest of them are located all over the country and give Petrom the possibility to become even more accessible for its customers. With additional investments all of them will be modernized and will operate under the new introduced concept of PetromV. The customers will also benefit from the presence of a highly appreciated brand such as Viva, while qualified and well trained employees will assist them.
Petrom wants to achieve further growth not only quantitative but also qualitative and to reach its 2010 goals: 250 PetromV filling stations to offer the best products and services, to reach a commercial market coverage of 30% and to raise throughput ratio of fuel stations to 2.9 mn liters/year. The development strategy for marketing is supported by a budget of Euro 500 million for the next years.