OMV to Announce Petrol Ofisi Financing in First Half of 2011

OMV AG, central Europe’s biggest energy company, will make a decision on the long-term financing of the 1 billion-euro ($1.3 billion) acquisition of Petrol Ofisi AS in the first half of 2011.
OMV will initially pay for the takeover in cash and via existing bridge loan facilities, Chief Executive Officer Wolfgang Ruttenstorfer told journalists in Vienna today. OMV is still determining whether it will issue new stock, convertible bonds or hybrid capital to finance the deal, he said.
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Source: Bloomberg