OMV to sell $2.3 billion of assets to buy Borealis
Topics: OMV BOREALIS
OMV signed on Thursday the previously announced deal with Abu Dhabi state investor Mubadala that will see it increase its stake in Borealis to 75% from 36%.
“This transaction is not just another milestone in the implementation of our strategy, but the biggest transformation in OMV’s history,” said Chief Executive Rainer Seele.
“This turns OMV into a global oil, gas and chemicals group, whose integrated business model extends from the wellhead to high-quality plastic and repositions the group for a low carbon future.” ■