OMV, Mubadala close deal for strategic 39pc Borealis stake

OMV, Mubadala close deal for strategic 39pc Borealis stake

OMV, the international integrated oil and gas company based in Vienna, said it has completed the transaction with Abu Dhabi-based Mubadala Investment Company for acquisition of an additional 39 per cent stake in top global chemical company Borealis.

 

Following the initial agreement announced in March this year, the transaction was completed in line with the expected timeline and in accordance with all the regulatory requirements. 

 

OMV now holds a 75 percent interest in Borealis and Mubadala retains a 25 percent interest in the company.

 

Following this transaction, OMV will be entitled to all dividends in relation to the additional shares in Borealis distributed after December 31, 2019. It will fully consolidate the results of Borealis in its financial statements. 

 

In 2019, Borealis generated worldwide total sales of euro 9.8 billion and a net profit