Deals
OMV Said in Talks to Hire Morgan Stanley for Turkey Disposal
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OMV AG, central Europe’s biggest oil and gas company, is in talks with Morgan Stanley to help manage the sale of Turkey’s biggest fuel retailer, three people with knowledge of the matter said.
The company, which decided to sell its Istanbul-based unit OMV Petrol Ofisi AS to raise cash as it struggles with low oil prices, may take time to decide on the mandate, said the people, who asked not to be identified because the process isn’t public. Vienna-based OMV has already hired an Istanbul-based legal firm for the deal and may sign up a second investment bank.