OMV Exploration and Production GmbH, a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd, based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1,250 million and debt of USD350 million. OMV will pay USD540 million for 50 per cent interest in SUP at closing by subscribing to newly issued shares. In addition, the parties agreed to additional consideration of up to USD85 million based on certain occurrences mainly linked to the resource volume in Block 30, Mexico at the time of taking the final investment decision. Both parties have also agreed to refinance the existing intercompany debt of USD350 million. Johann Pleininger, OMV Board Member Upstream and Deputy Chairman of the Executive Board: “This acquisition will add attractive reserve volumes to our portfolio and significant near-term increase in production. As Asia Pacific is an attractive growing market, Malaysia will represent OMV’s platform for further regional growth.”