Announced
Completed
Financials
Tags
Acquisition
Friendly
Single Bidder
Basic Chemicals
Chemicals: Diversified
Private
Austria
chemicals
Majority
Private Equity
Domestic
Completed
Synopsis
OMV Group, Austrian oil and gas group, completed the acquisition of 39% stake in Borealis, a global polymer producer, from Mubadala, a sovereign investor managing a global portfolio, for $4.7bn. OMV now holds a 75% interest in Borealis and Mubadala retains a 25% interest in the company. "This transaction is another milestone in the implementation of our strategy. We are thus establishing an integrated and sustainable business model extending OMV’s value chain towards higher value chemical products and recycling, thereby repositioning the Group for a lower carbon future," Rainer Seele, OMV Chairman and CEO.
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