UAE's Mubadala, OMV ink $4.68bn deal for Borealis stake - Arabianbusiness:
Mubadala Investment Company and OMV, the oil and gas company headquartered in Vienna, on Thursday signed an agreement that will give OMV a majority stake in Borealis, one of Europe’s leading petrochemical companies.
OMV, which currently owns a 36 percent stake in Borealis, will acquire an additional 39 percent from Mubadala.
The transaction value amounts to $4.68 billion and represents the biggest acquisition in OMV’s history and the largest transaction ever for Mubadala, state news agency WAM reported.
Following completion, OMV will hold a 75 percent interest in Borealis and Mubadala will retain a 25 percent interest. The transaction is expected to close by the end of 2020 and is subject to regulatory approvals.
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