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OMV & Mubadala Negotiate Additional 39% Share in Borealis

Source: www.gulfoilandgas.com 3/6/2020, Location: Europe

OMV and Mubadala are currently negotiating the acquisition of an additional 39% share in Borealis AG (Borealis) by OMV for a purchase price of USD 4.68 bn.

The potential transaction (which would increase OMV's current shareholding in Borealis from 36% to 75%) would expand the value chain of OMV in the petrochemical sector and would allow OMV to fully consolidate the results of Borealis Group in OMV's financial statements. The shareholding of Mubadala in Borealis would, after the closing of the potential transaction, amount to 25%.

A potential transaction is, inter alia, subject to (i) an agreement with Mubadala on the commercial transaction parameters and the transaction documents (consisting, in particular, of a share purchase agreement and an amended shareholders' agreement) in the ongoing negotiations, (ii) approvals by Mubadala and (iii) other approvals by authorities (such as merger control clearances). Furthermore, the Supervisory Board of OMV has not finally deliberated and decided on the potential transaction. It is expected that a respective decision is made as soon as possible.



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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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