Austria-based oil and gas company OMV has agreed to sell its 51% stake in Gas Connect Austria to VERBUND, an Austrian electricity company, for EUR 271 million. In addition to the consideration, VERBUND will assume the outstanding liabilities of Gas Connect Austria to OMV on the closing date in 2021. As per the terms of […]
Italy’s Eni and Austria’s OMV, through separate agreements, have agreed to acquire stakes of 20% and 15%, respectively in ADNOC Refining – the refining business of Abu Dhabi National Oil Company (ADNOC), for a combined total of $5.8 billion. ADNOC will keep the remaining stake of 65% in the refining company, which boasts of a […]