Crodux derivati d.o.o. (Crodux Group), based in Croatia, has acquired OMV Hrvatska d.o.o. (OMV Croatia) from VIVA International (OMV Group) for an undisclosed consideration.
The controlling shareholder of Crodux Group, Mr. Čermak, has been in the oil and gas industry for a long time. The core of the network of OMV Croatia had originally been acquired from Mr. Čermak in 1998. Following its sale to OMV Group, Mr. Čermak founded a new company Tifon d.o.o. After the sale of Tifon to Hungarian MOL in 2007, Crodux Group focused on developing LPG business and perceived OMV Groups’s decision to sell its downstream assets in Croatia as an opportunity to exploit synergies by integrating Crodux Group’s LPG business with OMV Croatia's network of 62 filling stations.
Crodux derivati d.o.o. emerged from Crodux d.o.o. which was the first private oil company in Croatia founded in 1996. Presently, Crodux d.o.o. is a diversified group that owns and operates the third largest network of fuel stations in Croatia, an LPG terminal in the vicinity of Zagreb and further terminals, filling facilities and filling plants.
OMV Croatia, engaged in retail and commercial marketing of fuel and fuel derivatives via a network of 62 fuel stations, was the Croatian subsidiary of Austrian integrated oil and gas company, OMV Group.
OMV Group is an integrated international oil and gas company with sales of around US$56 billion and a workforce of approximately 27,000 employees in 2013. The group operates in three business segments: exploration and production, gas and power, and refining and marketing. It is Austria’s largest listed industrial company.
OMV Group ran the competitive sale process and, among several international diversified oil and gas groups, Crodux Group won the auction and was selected as the preferred buyer. Oaklins' team in Croatia advised the buyer in this transaction. In addition to exclusively advising Mr. Čermak on the acquisition of OMV Croatia, our team also assisted in securing an acquisition loan and coordinated the work of all other advisors.
© Oaklins. All rights reserved. Oaklins refers to Oaklins International Inc. and/or one of its member firms, each of which is a separate legal entity. Please see www.oaklins.com/legal for further details.