Today, the Executive Board of OMV has decided to enter – within the framework of the ongoing competitive bidder process conducted by OMV – into negotiations with interested bidders on the commercial terms and the contractual documentation for the potential sale of 50% of the shares in SapuraOMV Upstream Sdn. Bhd. (“SapuraOMV”). In the event of a sale, OMV expects, based on the offers received by such bidders so far, a total consideration in the high three-digit million (USD) range.
Furthermore, the Executive Board of OMV has decided today, to continue the ongoing sales process for 100% of the shares in OMV New Zealand Limited (“OMV NZL”) separately, as there was limited interest in a combined deal.
Any potential sale is, inter alia, subject to (i) agreement with an interested bidder on the transaction documents, (ii) approvals of the transaction by the Executive Board and the Supervisory Board of OMV, and (iii) approvals by competent governmental authorities.
