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Adnoc Announces Transfer Of 24.9% OMV Shareholding To XRG
(MENAFN- Khaleej Times)
Adnoc announced on Wednesday its intention to transfer its 24.9 per cent shareholding in OMV AG to XRG, its wholly-owned international investment company.
This transfer, which is subject to regulatory approvals, is aligned with Adnoc's strategy to consolidate its international growth investments under XRG.
Recommended For You Kerala nurse Nimisha Priya's execution postponed: Indian mediaAdnoc is also progressing with preparation for the proposed establishment of Borouge Group International, which is set to be a top-four global polyolefins producer. Adnoc's proposed 46.94 per cent shareholding in the new entity is expected to be held by XRG upon completion of the transaction, subject to regulatory approvals.
Adnoc said it remains committed to its longstanding partnership with OMV through XRG and reaffirms its support for the company's continued growth and success.
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