EANS-Adhoc: OMV Aktiengesellschaft / OMV acquires from ADNOC a 15% share in ADNOC Refining and a 15% share in a to-be-established trading joint venture

Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Mergers - Acquisitions - Takeovers
27.01.2019

Vienna - Today, OMV and Abu Dhabi National Oil Company (ADNOC) have signed an agreement for the acquisition of a 15% share in Abu Dhabi Oil Refining Company (ADNOC Refining) and a 15% share in a to-be-established trading joint venture. The estimated purchase price for OMV amounts to approximately USD 2.5 bn based on 2018 year end net debt. The final purchase price is dependent on the net debt as of closing and certain working capital adjustments. Pursuant to the agreement, the enterprise value for 15% amounts to approximately USD 2.9 bn.

The transaction at hand will grant OMV a stake in a refinery hub in Abu Dhabi with integrated petrochemicals consisting of Ruwais East, Ruwais West and Abu Dhabi Refinery with a 922,000 barrels/day total capacity. The to-be-established trading joint venture will allow OMV to participate in netback optimized export sales and international trading activities. The transaction will be accretive to OMV's earnings per share from the first year onwards. A financial framework to achieve self-funded growth, paired with an attractive dividend policy, has been agreed.

The implementation of the transaction is subject to conditions precedent, such as merger control clearances. The transaction is anticipated to close in Q 3 2019.

end of announcement euro adhoc

issuer: OMV Aktiengesellschaft
Trabrennstraße 6-8
A-1020 Wien
phone: +43 1 40440/21600
FAX: +43 1 40440/621600
mail: investor.relations@omv.com
WWW: http://www.omv.com
ISIN: AT0000743059
indexes: ATX
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/145/aom

Rückfragen & Kontakt:

OMV Aktiengesellschaft

Andreas Rinofner, Public Relations
Tel.: +43 (1) 40 440-21427; e-mail: public.relations@omv.com

Florian Greger, Investor Relations
Tel.: +43 (1) 40 440-22421; e-mail: investor.relations@omv.com

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | EAE0001