Austria’s OMV announced on 29 October that it had completed the $4.68bn purchase of 39% of Austrian petchems firm Borealis from Abu Dhabi state investment fund Mubadala.

The transaction, announced in March, takes OMV’s stake in Borealis to 75% and reduces Mubadala’s stake to 25%. The deal, announced in March, is “the largest in both Mubadala and OMV’s history” (MEES, 13 March). Mubadala also owns 24.9% of OMV itself. (CONTINUED - 191 WORDS)