CHSH Cerha Hempel Spiegelfeld Hlawati, one of the largest and most well-known law firms in Austria, advised OMV Aktiengesellschaft, the leading energy group in the European growth belt, on the increase of its stake in Petrol Ofisi A.S. from 41.58% to 95.75%.
The transaction was closed on 22 December 2010 with the acquisition of the 54.14% stake held by Doğan Holding.
Petrol Ofisi is one of the leading companies in the Turkish oil products retail and commercial markets and disposes of the only regionwide net of petrol stations in the fast growing Turkish market.
The CHSH lawyers under the lead of Clemens Hasenauer acted as Austrian transaction counsel for OMV. At OMV, Stefan Waldner, Head of M&A, and Andreas Aigner, Head of M&A Legal, were in charge of the transaction. Further, OMV was also advised by legal advisers in Switzerland and Turkey.
"This transaction is one of the largest deals performed by an Austrian company in recent years and it clearly shows that things are looking up for the M&A sector" said Clemens Hasenauer, Head of Department Corporate Transactions at CHSH. Besides Hasenauer, the CHSH team consisted of Johannes Prinz, Bernhard Kofler-Senoner and Lorenz Pracht.