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OMV AG — M&A Activity 2024
Jan 31, 2024
751_iss_2024-01-31_00d5f43c-60fa-4e40-ab07-481158402f8c.pdf
M&A Activity
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News-Service of the pressetext news agency Josefstädter Straße 44, 1080 Vienna, Austria, phone: +43 1 81140-0
Publication: 31.01.2024 14:00 Source: https://www.pressetext.com/news/20240131021 Keywords: Sale
Public disclosure of inside information according to article 17 MAR
OMV Aktiengesellschaft: OMV has reached an agreement with TotalEnergies for sale of SapuraOMV
Vienna (pta021/31.01.2024/14:00 UTC+1)
OMV has reached an agreement with TotalEnergies Holdings SAS ("TotalEnergies") for the sale of its 50% stake in the issued share capital of SapuraOMV Upstream Sdn. Bhd. ("SapuraOMV") in Malaysia. The signing of the relevant transaction documentation is expected to take place during the course of today.
The overall cash consideration amounts to USD 903 mn. This amount includes the full repayment of the outstanding USD 350 million shareholder loan granted by OMV to SapuraOMV as well as net working capital and other elements with the consideration being subject to closing adjustments (Economic Effective Date December 31, 2022).
The implementation of the transaction is, inter alia, subject to certain partner consents as well as governmental and regulatory approvals. The transaction is anticipated to close around end of Q2 2024.
| Emitter: | OMV Aktiengesellschaft Trabrennstraße 6-8 1020 Wien Austria |
|---|---|
| Contact Person: | Thomas Hölzl |
| Phone: | +43 1 40440/23760 |
| E-Mail: | [email protected] |
| Website: | www.omv.com |
| ISIN(s): | AT0000743059 (Share) |
| Stock Exchange(s): | Vienna Stock Exchange (Official Trade) |
News transmitted by pressetext. The emitter is responsible for the content.