Mubadala and OMV complete the Borealis deal with 17 billion dollars


Abu Dhabi, Vienna:
Mubadala Investment Company and OMV, the Vienna-based global company specializing in integrated oil and gas services, announced the completion of a deal to acquire OMV on 39% of Mubadala’s stake in Borealis, the global leader in chemicals.
The initial agreement was announced in March of this year, and the deal was completed within the specified timeline after meeting all the necessary regulatory requirements. With this, OMV’s stake in Borealis will increase to 75%, while Mubadala will maintain a 25% stake, and the total value of the deal is $ 4.68 billion (17 billion dirhams) in the largest deal in the history of Mubadala.
Under the agreement, OMV will include the results of “Borealis” in its financial statements. In 2019, Borealis achieved total global sales of 9.8 billion euros, with a net profit of 872 million euros.
Musabbah Al Kaabi, CEO of the Petroleum and Petrochemicals Sector at Mubadala, said: This deal is in line with our mission to achieve sustainable financial returns, and it is also in line with our strategy as a responsible global investment company. We are fully confident that this step will achieve sustainable value for Mubadala, as well as for “OMV” and “Borealis”. We also support the strategy of “OMV” aimed at expanding the chemical sector, especially in light of the expected transformation in the global energy sector.
Al Kaabi added: This transaction confirms the success of the strategic partnership between Mubadala, Borealis and OMV, which extends over a period of more than 20 years, and reflects the long-term outlook pursued by Mubadala in investing and its ability to make appropriate decisions in a timely manner in a manner that achieves the highest Possible value for exchange and for the owner.
For his part, Rainer Seal, Chairman of the Executive Board and CEO of OMV, said: This transaction is an important step in the implementation of our strategy. It allows us to establish an integrated and sustainable business model to expand the value chain to include higher value chemical products and recycling processes, thus enhancing our ability to contribute to shaping a low carbon future.
It is worth noting that Borealis is headquartered in Vienna and has operations in more than 120 countries and employs more than 6,800 employees. The company provides its services and products to clients around the world, either directly or in cooperation with “Borouge”, a joint venture between the Abu Dhabi National Oil Company (ADNOC) and “Baystar”, a joint venture with “Total” in Texas, USA.
OMV and Borealis will collaborate to enhance their expertise and operations in the area of ​​the circular economy. Borealis’ initiatives in the field of plastic recycling, such as the recycling facilities’ Eco Plast ‘(in Austria) and’ MTM Plastics’ (in Germany), and ‘Project Stop’ (for waste management in the ocean) and the design initiative for recycling Recycling is to be a valuable addition to OMV’s technologies for the chemical recycling of spent plastics and their transformation into industrial raw materials.


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