Doğan Enerji acquires local fuel oil distributor

ISTANBUL

Doğan Enerji bought some 50 percent in local fuel oil distribution company, Aytemiz, which has 310 gas stations and 11 supply depots, for 152 million liras.

Doğan Enerji, a subsidiary of Turkish Doğan Holding, has announced it acquired an approximately 50 percent stake in Aytemiz fuel oil distribution for 152 million Turkish Liras (around $63 million) by a written statement to the Public Disclosure Platform (KAP) on Jan. 30. 

“The board of the Aytemiz Fuel Distribution company will be composed of seven members and a majority of the members, four members, will be elected from among candidates who are selected by Doğan Enerji,” said the statement. 

According to the financial records, on Dec. 31, 2013, Aytemiz’s assets were worth some 566 million liras ($233.7 million) the company had 2 billion liras ($825.7 million) in revenue, said the statement. 

Aytemiz has 310 gas stations, 11 supply depots and four storage facility capacities, according to the statement.

Doğan Holding, which has operations in Turkey’s media, energy, retail, industry, real estate, marketing, tourism and financial sectors, used to own over half of the country’s largest fuel distribution company, Petrol Ofisi, 
before selling its shares to Austrian company OMW in 2010 for $1 billion.