OMV Petrom becomes largest electric mobility player in Romania after Renovatio Asset Management acquisition

Integrated energy producer OMV Petrom said on May 31 that it closed the acquisition of Renovatio Asset Management, the owner of the largest charging network for electric vehicles in Romania, with over 400 charging points and growth prospects to approximately 650 by 2026. Following this deal, OMV Petrom becomes the largest player in the field of electric mobility in Romania.

The transaction was approved by the Competition Council and the Commission for Foreign Direct Investment Screening.

At the end of the first quarter of 2024, there were approximately 300 charging points in OMV and Petrom networks.

The company targets 1,000 charging points for electric vehicles in the region by the end of 2024.

Radu Căprău, the member of OMV Petrom Executive Board responsible for refining and marketing, said: “By completing this acquisition, OMV Petrom becomes the largest player in the field of electric mobility in Romania. Our ambition is to have 1,000 charging points installed in Romania, Bulgaria, Serbia, and Moldova by the end of this year. We want to remain our customers’ first choice and to consolidate our leading position in the Romanian mobility segment.”

OMV Petrom is the largest integrated energy producer in southeastern Europe, with an annual group hydrocarbon production of approximately 41 million boe in 2023. The group has a refining capacity of 4.5 million tons annually and operates an 860 MW gas-fired power plant.

The group is present in the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.

As of the end of 2023, Romanian shareholders hold over 43% of the OMV Petrom shares, of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% are owned by pension funds in Romania. They are joined by almost 500,000 individual investors and other Romanian entities.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 5.6% are held by other foreign investors.

Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.

(Photo source: OMV Petrom)