ADNOC acquires 25% equity ownership in global energy group OMV

ADNOC acquires 25% equity ownership in global energy group OMV

Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has officially closed the acquisition of a 24.90% shareholding in Austria-based OMV AG OMV AG from Mubadala Investment Company.

The transaction aligns with ADNOC’s global chemicals growth strategy and anchors its position as a long-term partner and growth-oriented investor, according to a press release.

Meanwhile, the financial details of the deal were not disclosed yet.

ADNOC currently owns 24.90% of OMV, while Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, holds 31.50%, with the remaining share capital in free float.

Through this strategic investment in OMV, ADNOC raised its stake in both Borealis AG and Borouge, expanding its footprint in the chemicals sector.

In line with OMV’s governance processes, ADNOC plans to nominate two representatives to the OMV Supervisory Board in due course.

Khaled Salmeen, Executive Director of Downstream Industry, Marketing & Trading at ADNOC, said: “Building on our 25% shareholding in Borealis, this transaction marks the next transformative step as we accelerate our ambitious chemicals growth strategy, unlocking significant growth and value creation opportunities for ADNOC, OMV and their respective shareholders.”

ADNOC acquires 25% equity ownership in global energy group OMV