Second biggest merger move of the year by OYAK

In May 2020, OYAK consolidated its five public cement companies under the "OYAK Cement" umbrella, and its efficiency and profitability focused final move is towards the energy group. While maintaining its TOTAL and M Oil brands, OYAK decided to merge all the operations of these brands under Güzel Enerji Akaryakıt A.Ş.  

OYAK, the largest occupational pension fund in Turkey, merged its TOTAL and M Oil stations under the name of "Güzel Enerji" following its sustainable growth strategy and its objectives in the energy sector following the merger in the cement sector in May 2020. 

In addition to its 550 thousand m3 fuel and LPG facilities in Gebze, Aliağa, Tekirdağ Marmara Ereğlisi, Ankara, Yarımca and Samsun and the mineral oil factory in İzmir Çiğli, the company will continue its operations under two separate brands, TOTAL and M Oil, with more than 900 stations under a single legal entity throughout Turkey.

In line with its sectoral diversity and growth objective, OYAK utilized the opportunities in fuel and autogas as well as mineral oil and non-fuel services, and consolidated its fuel companies under one roof to become one of the players that shape the energy industry with high performance and efficiency. 

Standing out with the value it creates in the industries that it operates in, as well as with the utilization of savings opportunities and its strong balance sheet structure; in addition to renewing the dealer contracts, OYAK added 33 new stations and reached to a market share of 6.5 percent in the fuel distribution industry.  The year-end goal is to open new stations and increase customer satisfaction through service and product diversity.

Erdem: “Mergers will carry OYAK into the future”

OYAK General Manager and Güzel Enerji Akaryakıt A.Ş. Chairman Süleyman Savaş Erdem emphasized that they continue to work with the right moves for the welfare of the country and its members during the period they call a "period of determination.”

Erdem stated that OYAK focuses on operating in strategic industries that contribute to the objectives of the country's economy and shape international financial markets, and added that they built all their operations on this awareness. Erdem continued: 

“In recent months, we have merged our five cement companies under one roof and said, 'we have drawn a new horizon for the future of our group'. Today, we have merged both brands under one roof with a focus on savings, efficiency, profitability and rapid growth in the fuel industry, which we say “we are also here” with a strong acquisition. Thanks to this merger, we will increase our competitiveness by managing our companies with a more efficient and holistic approach. We will go further with the emerging collaboration by bringing our companies into a technology-oriented structure that learns from each other and features high operational efficiency. We are confident that the synergy that will arise from the mergers in both cement and fuel fields will carry OYAK into the future.”