OMV has reached an agreement with TotalEnergies Holdings SAS (“TotalEnergies”) for the sale of its 50% stake in the issued share capital of SapuraOMV Upstream Sdn. Bhd. (“SapuraOMV”) in Malaysia. The signing of the relevant transaction documentation is expected to take place during the course of today.
The overall cash consideration amounts to USD 903 mn. This amount includes the full repayment of the outstanding USD 350 million shareholder loan granted by OMV to SapuraOMV as well as net working capital and other elements with the consideration being subject to closing adjustments (Economic Effective Date December 31, 2022).
The implementation of the transaction is, inter alia, subject to certain partner consents as well as governmental and regulatory approvals. The transaction is anticipated to close around end of Q2 2024.