Image: OMV Solutions GmbH
The course jumped around 5 p.m. on Tuesday evening by 7.35 percent to 42.77 euros. As reported, a merger of the companies could create a chemicals and plastics group with a market value of more than 30 billion US dollars (27.5 billion euros).
According to the Bloomberg news agency, the potential valuation and ownership structure are the subject of discussions that could lead to formal merger negotiations in the coming weeks. OMV announced that market speculation would not be commented on. Borealis, based in Vienna and research center in Linz, is 75 percent owned by OMV, the rest is held by the state-owned Abu Dhabi National Oil Company (Adnoc). Borouge from Abu Dhabi is a joint venture between Adnoc and Borealis.
The subject of the talks is currently whether Abu Dhabi and OMV should each hold the same share in the merged company, it said. Both companies could also hold shares below 50 percent and bring the rest to the stock exchange. Adnoc could also hold a slightly higher stake than OMV.
Source: Nachrichten
