NIS takes over OMV retail network in Bosnia-Herzegovina

(Photo: nis.rs)

The Petroleum Industry of Serbia (NIS) signed Friday (30 November 2012) an agreement in Belgrade to acquire 100% of the company OMV BH, thus taking over the network of 28 gas stations in Bosnia-Herzegovina.

As it was announced on the company's website (www.nis.rs), the OMV network is one of the strongest in the market of Bosnia-Herzegovina, and the acquisition of gas stations of that company represents a step in the implementation of the NIS regional development strategy by 2012, which lists the expansion of retail network in the Balkans as one of the priorities.

By taking over the OMV retail network in Bosnia-Herzegovina, NIS will provide channels for selling Euro 5 fuel, which is produced at the refinery of the largest oil company in Serbia.

The statement at the company's website also reads that the NIS regional development strategy identifies Bosnia-Herzegovina as a top-priority market along with Bulgaria and Romania.

It is expected that the agreement between NIS and OMV BH will be closed upon the approval by the competent antitrust authority. As mutually agreed, companies will not reveal the price of this transaction, reads the statement.

According to the business plan for 2013, NIS should have minimum 100 gas station in Bulgaria, Romania and BH by the end of that year.