OMV, ADNOC near agreeing deal for chemical substances firm tie up  | Reuters Information Company


Enterprise & FinanceOffers

Reuters solely reported that Abu Dhabi Nationwide Oil Co (ADNOC) is closing in on a take care of Austria’s OMV (OMVV.VI) to mix two entities by which the businesses personal stakes to create a chemical substances large, two individuals with data of the talks stated. In July OMV stated it had entered into talks to merge petrochemicals group Borealis – which is owned by OMV and ADNOC in a 75:25 cut up – and Borouge (BOROUGE.AD), which is 54:36 owned by ADNOC and Borealis. 

Market Affect

OMV shares spiked larger, final up 3.6%, after Reuters reported that the 2 sides had been near settlement. 

Article Tags

Matters of Curiosity: Enterprise & FinanceOffers

Kind: Reuters Greatest

Sectors: Enterprise & FinanceCommodities & Vitality

Areas: Europe

International locations: Austria

Win Varieties: Exclusivity

Story Varieties: Unique / Scoop

Media Varieties: Textual content

Buyer Affect: Necessary Regional Story



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