OMV, Mubadala complete Borealis transaction
- Date: 29-Oct-2020
- Source: Mubasher
- Sector:Industrial
- Country:UAE
OMV, Mubadala complete Borealis transaction
Abu Dhabi – Mubasher: The Abu Dhabi-based Mubadala Investment Company, and OMV, an international oil and gas company headquartered in Vienna, have completed the transaction for OMV to acquire an additional 39% stake in Borealis, a global chemical company, from Mubadala.
The transaction was completed in line with the expected timeline and in accordance with all the regulatory requirements, following the initial agreement announced in March 2020.
OMV now holds a 75% interest in Borealis and Mubadala retains a 25% interest in the company.
OMV is entitled to all dividends in relation to the additional shares in Borealis distributed after 31 December 2019. OMV will fully consolidate the results of Borealis in its
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