OMV AG today announced the closing of a transaction with TotalEnergies, for the sale of its 50 percent stake in the Malaysian SapuraOMV Upstream Sdn Bhd. The overall cash consideration is USD 957 million. This amount includes the full repayment of the outstanding shareholder loan of USD 350 million granted by OMV to SapuraOMV, as well as the net working capital and other elements including interest on the purchase price.
The economic effective date of the transaction is December 31, 2022.
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It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable chemicals, fuels and energy company with a focus on circular economy solutions. By gradually switching over to the low carbon business, OMV is striving to achieve net zero by 2050 at the latest. In 2024, the company generated revenues of 34 billion euros with a diverse and talented workforce of around 23,600 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the US as American Depository Receipts (OMVKY). For more information, please visit www.omv.com.