The Turkish fuel retailer has been reported that it was owned by OMV AG. The company OMV AG has noted to be the central Europe's biggest gas and oil companies. The three persons who were familiar with the matter disclosed that OMV AG was the secret owner of Turkish fuel retailer which has been into a bidding lately.

The world's largest crude exporter, Saudi Arabian Oil Co. is one of the second-round bidders of the Turkish fuel retailer. On the other hand, HSBC Holdings Plc has recommended the Saudi company of its potential to acquire Istanbul-based OMV Petrol Ofisi AS, which has been the largest seller of petroleum products in Turkey, said Reuters.

The sources, who asked not to be named said that the State Oil Company of Azerbaijan or Socar has been bidding too. Opet Petrolculuk As, a joint venture of Koc Holding and Turkey's Ozturk family have been bidding as well. There was more than 2.5 billion USD worth of transactions from 2010 to 2016 that has been spent when OMV bought Petrol Ofisi from Dogan Sirketler Grubu Holding AS.

It has been disclosed that Dogan Sirketler Grubu Holdings sold the unit as part of plans that it could raise cash through selling assets and cutting jobs as a result of the depreciation of oil and gas prices. Thus, it has forced down to write bottom of form about 3.5 billion euros (3.8 billion USD) of assets.

In Turkey, Petrol Ofisi owns the country's biggest fuel storage and logistics business. In fact, Pertol Ofisi has been operating 1,785 petrol stations.Earlier, Morgan Stanley, an American multinational financial services corporation has been helping Vienna-based OMV to sell the entire stake in the unit according to people familiar with the situation.

Robert Lechner, OMV spokesman said that the sales process has continued. Lechner renounced to comment further. The two firms, Koc Holding and HSBC had also refused to comment. On the other hand, Aramco's representatives weren't reachable to comment at that time. While, Socar's spokeswoman in Turkey failed to instantly return calls in sought of a comment, Bloomberg ratified.

Meanwhile, Aramco has been eyeing at subsequent opportunities in Turkey. It has inked a memorandum of agreement last month with 18 Turkish companies. Amin Nasser, Aramco's Chief Executive Officer said that on 11 October OMV had previously disclosed that the entire Petrol Ofisi business has a book value of 1.6 billion euros. However, according to Bloomberg Intelligence, it may fetch 1.3 billion or less in the sale.

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