- OMV and MOL Group have concluded the transaction in which OMV sold its shares in OMV Slovenija trgovina z nafto in naftnimi derivati, d.o.o. to MOL Group
- This divestment supports OMV’s strategy to become a net-zero emissions company
OMV, the international, integrated Energy, Fuels & Feedstock, and Chemicals & Materials company, headquartered in Vienna, Austria, and MOL Group, a leading international integrated oil and gas company headquartered in Budapest, Hungary, have completed the sale of OMV Slovenia (includes among others OMV filling stations and OMV’s wholesale business) to MOL Group with effect of July 1, 2023. This divestment supports OMV´s journey of transformation to become a sustainable and net-zero emissions company by 2050 at the latest.
The initial purchase price received at closing amounts to EUR 311 mn (for the 92.25% OMV stake) to be adjusted for the actual net working capital and net financial debt at closing.
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,700 filling stations in eight European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.