5/31/2018
Mergers and Acquisitions in Energy Industry
It is reported that Bilgin Enerji has agreed to acquire OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş...
It is reported that Bilgin Enerji has agreed with the Vienna-based international petroleum and gas company OMV to acquire OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş. The agreement will take effect after the approval of the Turkish Competition Authority and relevant other bodies. It is expected that the acquisition will be completed by the 4th quarter of 2018. Tolga Bilgin, the Chief Executive Officer of Bilgin Enerji said: "By acquiring this company which has one of Turkey's most flexible and efficient natural gas power plants, we are planning to raise our installed capacity to 1760 MW, increase our market share and make our renewable power generation portfolio more balanced and flexible. Our confidence in our country's power and future was effective in the decision of acquisition." It was stated in the announcement made by OMV that they would continue their energy sales and energy trade operations in Turkey. OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş commissioned a natural gas combined cycle plant with a license capacity of 896.69 MWm / 886.92 MWe in Samsun in 2013. The power plant has the capacity to meet 3 percent of Turkey's energy requirement TEBA:1868/ May 24, 2018.
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