- The transaction is part of the OMV Petrom strategy to focus on core activities
OMV Petrom, the largest oil and gas producer in Southeastern Europe, has signed the contract for the sale of OMV Petrom Wind Power SRL ("Dorobantu Wind Park") to Transeastern Power B.V. – a limited liability company registered in the Netherlands, a wholly owned subsidiary of Transeastern Power Trust, for an amount of EUR 23 mn. The completion of the transaction is subject to customary conditions precedent, including approval from the Competition Council, and is expected by end of this year.
OMV Petrom strategy as an integrated oil and gas group is to concentrate on core activities. More specifically, in Downstream Gas, the focus is placed on consolidating the leading position on the gas market, on maximizing the benefits of the integrated gas and power business model and on regional expansion. Wind power activities are not part of the strategic directions.
You can find out more from the attached press release.