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Eni Purchases ExxonMobil Downstream Activities in Austria

ENI Logo Eni has announced today it has signed sale and purchase agreement for the shares of Mobil Oil Austria GmbH ("Mobil Austria") and Esso Austria GmbH ("Esso Austria"), respectively to Agip Austria GmbH ("Agip Austria") and to Eni International B.V..

Through the transaction, Eni will acquire ExxonMobil oil downstream activities in Austria. This includes a retail network with 135 service stations, the Industrial & Wholesale (I&W) business (with 36 additional Esso branded retail service stations owned by I&W resellers) and the aviation business at the Vienna and Linz airports, including the 28.6% share in the proprietary joint venture for logistical assets at the Vienna airport.

Also included is the Supply & Distribution business with its 33.3% participation in the Salzburg terminal joint venture. The lubricants and specialties business is excluded from the transaction.

The finalisation of the transaction is subject to certain pre-conditions, including the approval of the relevant competition authorities.

With this acquisition, Eni will strengthen its existing downstream business in the country, operated through the local Eni affiliate Agip Austria, expanding the marketing capabilities and achieving supply synergies.

Published 21/01/2010

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Mergers, Acquisitions and Corporate Restructurings
Understanding Finance: Harvard Business School Press / Pocket Mentor
Understanding Finance: Harvard Business School Press / Pocket Mentor












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