ADNOC acquires 24.9% stake in Austrian energy company OMV

ADNOC acquires 24.9% stake in Austrian energy company OMV

Abu Dhabi National Oil Company (ADNOC) has announced that it is acquiring a 24.9 percent stake in Austrian energy company OMV from UAE’s sovereign wealth fund, Mubadala Investment Company.

This transaction cements the strong ties between the UAE and Austria as well as creates long-term value for ADNOC, Mubadala, and OMV. Further, the transaction is subject to certain closing conditions and regulatory approvals, and the financial terms of the deal were not disclosed.

Through this investment in OMV, which holds a 75 percent stake in Borealis, ADNOC will increase its shareholdings in both Borealis and Borouge, bolstering its footprint in the chemicals sector, enabling synergies and unlocking significant growth opportunities across its broader chemicals portfolio, in particular at Borouge.

Dr. Sultan Al Jaber

UAE Minister of Industry & Advanced Technology

MD & Group CEO – ADNOC “Building on the strong bilateral ties between the UAE and Austria, and our long-standing partnership with OMV, ADNOC is delighted to be acquiring a 24.9 percent stake in OMV. As we continue to meet the growing global demand for lower-carbon energy, we are fast-tracking the delivery of our growth strategy and expanding our footprint across key strategic markets and sectors. This milestone transaction, alongside our 25 percent shareholding in