Dogan Energy, a subsidiary of Turkish conglomerates Dogan Holding, is to acquire Aytemiz Holdings fuel oil distribution subsidary announced on Thursday.
According to Public Disclosure Platform, which notifies Turkish public about capital and financial markets, Dogan Energy started negotiations to acquire Turkish fuel oil distributor Aytemiz .
Dogan Holding which is operating in Turkey’s media, energy, retail, industry, real estate, marketing, tourism and financial sectors, used to own more than half of Turkey’s largest fuel distribution company Petrol Ofisi, before selling its shares to Austrian company OMW in 2010 for $1 billion.
Aytemiz Holding is operating with more than 300 gas stations throughout Turkey, has various energy investments in Turkey in oil, gas, electricity areas.
The size and price of the acquisition is still undisclosed as companies refused to answer because the negotiations are still going on.
By Arif Hüdaverdi Yaman