ADNOC closes acquisition of 24.9% stake in Austria’s OMV

By Shilpa Annie Joseph, Official Reporter
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ADNOC has formally closed the acquisition of a 24.9 percent shareholding in OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company.

The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor. Financial details were not disclosed.

Following the successful completion of the transaction, ADNOC owns 24.9 percent of OMV, while Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, holds 31.5 percent, with the remaining share capital in free float.

Through this strategic investment in OMV, ADNOC has increased its shareholdings in both Borealis and Borouge, further bolstering its footprint in the chemicals sector, enabling synergies and unlocking significant growth opportunities across its broader chemicals portfolio, in particular at Borouge.

This transaction represents the latest milestone in ADNOC’s ongoing value creation and international growth journey. Further, ADNOC intends to nominate two representatives to the OMV Supervisory Board in due course, in line with OMV’s governance processes.

According to the statement, cementing the strong ties between the UAE and Austria, the transaction reinforces ADNOC’s role as a primary catalyst for responsible, sustainable investment and value creation for Abu Dhabi, the UAE and its shareholders and partners.

Commenting on the successful closing, Khaled Salmeen, Executive Director of Downstream Industry, Marketing and Trading at ADNOC said that, “ADNOC is proud to become a shareholder in OMV, a leading international energy and chemicals company, with whom we share a long-standing strategic partnership.”

“Together, we have created significant value through our joint venture Borouge, and this investment will unlock further value and future growth opportunities for both companies. Building on our 25 percent shareholding in Borealis, this transaction marks the next transformative step as we accelerate our ambitious chemicals growth strategy, unlocking significant growth and value creation opportunities for ADNOC, OMV and their respective shareholders,” Khaled Salmeen added.

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