March 11, 2020 / 11:06 AM / 24 days ago

OMV, Mubadala agree on contract terms for Borealis stake increase

VIENNA, March 11 (Reuters) - OMV and Abu Dhabi state investor Mubadala have agreed on the contract terms for the Austrian oil group’s potential buy of an additional 39% share in plastics maker Borealis, OMV said on Wednesday.

Under the deal, worth $4.7 billion and subject to corporate and other approvals, OMV would be entitled to all dividends in relation to the additional Borealis stake from 2020, the statement said.

OMV currently owns 36% of the company and the remainder is held by Mubadala. (Reporting by Kirsti Knolle Editing by Riham Alkousaa)

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