OMV and Mubadala complete Borealis transaction

OMV and Mubadala complete Borealis transaction

ABU DHABI/VIENNA - Mubadala Investment Company, the Abu Dhabi-based strategic investment company, and OMV, the international integrated oil and gas company headquartered in Vienna, have today completed the transaction for OMV to acquire an additional 39 percent stake in Borealis, a leading, global chemical company, from Mubadala.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.OMV is entitled to all dividends in relation to the additional shares in Borealis distributed after December 31, 2019. OMV will fully consolidate the results of Borealis in its financial statements. In 2019, Borealis generated worldwide total sales of