ADNOC acquires 24.9% stake in OMV
Transaction aligns with ADNOC’s ambitious international growth strategy and Mubadala’s long-term investment strategy.
Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company (Mubadala) have announced the acquisition of 24.9% of OMV.
The transaction marks the next major milestone for ADNOC as it accelerates its ambitious domestic and international chemicals growth strategy and also aligns with Mubadala’s long-term investment strategy.
“This milestone transaction, alongside our 25% shareholding in Borealis, is testament to our focused investment in building an integrated chemicals platform to accelerate our ambitious growth strategy that will unlock significant growth opportunities across our broader chemicals portfolio, with a particular focus on creating distinctive value for Borouge and its shareholders,” said Dr. Sultan Al Jaber, ADNOC Managing Director.
Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company will hold 31.5%, while the remaining share capital will be in free float. Through this investment in OMV, who hold a 75% 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.
