OMV to squeeze out other shareholders in OMV Petrol Ofisi
OMV, the Austrian energy company is planning to squeeze out other shareholders in the Turkish petrochemicals company OMV Petrol Ofisi.
According to a stock exchange announcement, OMV will have to offer, the highest of:
1) The average share price during the 30 days following the first disclosure of the intentions to launch the offer, which is TRY 4.5 a share;
2) Pricing found by the evaluation report prepared for the offer, which is TRY 4.53 a share;
3) The average of the six-monthly, yearly and five-yearly average share price for the company, which are TRY 4.38, TRY 4.57 and TRY 5.12 a share respectively.
OMV will therefore offer TRY 5.12 (USD 2.22) per share.
--> Link to official annouvcement (In turkish) : {http://www.kap.gov.tr/api/Bildirim.aspx?id=400793&imza=imzali{