Crodux Derivati takes over OMV's filling stations in Croatia

Austrian oil and gas group OMV said on Friday it had signed an agreement to sell its OMV Hrvatska subsidiary to a unit of Croatia's Crodux Plin Group.

Crodux Derivati will take over all 63 employees and 62 filling stations as well as the local head office of OMV Hrvatska in Zagreb, OMV said in a statement.

The deal is expected to be closed in the first half of 2013 following approval by the competition authorities. The companies have agreed not to disclose the purchase price.

Following the completion of this transaction, OMV will have no further Refining and Marketing activities in Croatia, the statement said.

In December 2011, OMV said it was planning to shed its retail and commercial business in Croatia and Bosnia and Herzegovina as they do not fit optimally into its supply chain. The OMV strategy is aimed at achieving a sharpened and simplified company portfolio which includes gradually shifting the portfolio away from Refining and Marketing towards Exploration and Production.

In November last year, the Austrian group signed a deal to sell its 28 filling stations in Bosnia to Serbian peer NIS.

OMV has been active in the retail and commercial business in Croatia since 1992. OMV Hrvatska currently has a market share of around 13%.