A 111-year era ends: Petrol Ofisi acquires BP
Petrol Ofisi Group has announced that it has signed a share purchase agreement to acquire BP's fuel operations in Turkey.
Oil giant BP, which began operations in Turkey 111 years ago, has transferred its 770 fuel stations and licensing rights to Petrol Ofisi.
In a statement made by Petrol Ofisi, the price of the transaction, which covers BP's BP Petrolleri AŞ and BP Turkey Refining Limited companies in the Turkish market and is subject to regulatory approval, was not disclosed.
The statement noted that the sale, which is subject to the approval of the Turkish Competition Authority, is expected to be completed in 2024.
In the statement, Vitol Board Member Chris Bake, the main shareholder of Petrol Ofisi, said: "We are extremely happy to take this step, which will further strengthen the Petrol Ofisi Group, the national pride of the Turkish energy sector. We have full confidence in the future of Turkey with its young and dynamic population and growth potential."
Petrol Ofisi Group CEO Mehmet Abbasoğlu also commented: "We are looking forward to this exciting union that will further consolidate our strength in the market and to our new team members joining us."
News Source: AA
Most Read
Historic words from Özgür Özel at the CHP group meeting
Air Force Academy student Veli Bilgin has died
How did the newspapers view Özgür Özel's farewell to the CHP?
Tuncer Bakırhan calls for a framework law
Striking picture for Özgür Özel's 'New Party'
He killed his wife by slitting her throat: Their children witnessed the moments
The PKK opening and Özgür Özel’s path!..
Here are the names that will be in Özgür Özel's new party!
AKP mayor held responsible
Kılıçdaroğlu's 'controlled' shopkeeper visit