Vienna (Reuters) – According to an agency report, the US financial investor Carlyle is considering an offer for a large part of the oil and gas business of the Viennese OMV group.
The private equity firm has been keeping an eye on OMV’s upstream activities in various countries, Bloomberg reported, citing people familiar with the matter. According to the report, the activities of OMV in Austria and Russia as well as the participation in the Romanian Petrom are excluded from the offer.
Talks are still ongoing and it is not certain they will result in a transaction, the report said. When asked by the Reuters news agency, OMV declined to comment.
The state-owned company has no official plans to sell its oil and gas business. However, the long-term strategy envisages a withdrawal from fossil fuels by 2050. By 2030, oil and gas production is to be reduced by around a fifth. Until then, the profitable oil and gas business should support the Group’s restructuring towards sustainable fuels, chemicals and recycling.
The Austrian state holds 31.5 percent via the state holding company ÖBAG, and another 25 percent belong to Mubadala, the sovereign wealth fund from Abu Dhabi. In 2020, the two core shareholders had extended their syndicate agreement for a further ten years.
Other investors have also shown interest in OMV’s oil and gas business. However, Norway’s Aker, which was part of a consortium of bidders, has already withdrawn.
(Report by Alexandra Schwarz-Goerlich. Edited by Olaf Brenner. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets) .)
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