OMV Closes Divestment of 50% Share in SapuraOMV to TotalEnergies

Source: www.gulfoilandgas.com 12/10/2024, Location: Asia

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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