OMV: No Sale of Stake in Borealis

Businessn.a. ♦ Published: April 15, 2011; 11:37 ♦ (Vindobona)

The Austrian energy group OMV holds 36% of Borealis. IPIC, itself involved in OMV appears to be interested in the OMV share.

OMV: No Sale of Stake in Borealis / Picture: © Borealis

OMV denies holding negotiations with IPIC (International Petroleum Investment), the majority shareholder of Borealis, rejecting reports by the Bloomberg news agency. Bloomberg referred to IPIC Manager Khadem Al Qubaisi. The value of OMV’s stake in Borealis is approximately € 1.00bn. In the longer term an initial public offering of Borealis might take place, according to OMV CEO…