ENI / OMV $5.8 billion acquisition of 35% stake in Adnoc

28/1/2019

Joint venture, Private acquisition

Value:

$ 5.8 billion

Status:

Announced

Date:

28/1/2019

Overview:

Eni and OMV have reached an agreement to acquire 35% of Adnoc Refining for around $5.8 billion.
Italian energy company Eni will pay around $3.3 billion for a 20% stake and Austrian energy company OMV will pay around $2.5 billion for a 15% stake.
The deal also involves the creation of a joint trading venture between the three partners.

Ben Naylor - Editor

Jurisdictions:

Italy
United Kingdom
Austria
United Arab Emirates

Deal types:

Joint venture
Private acquisition

Practice area:

M&A

Governing law:

United Arab Emirates

Industry sector:

Oil and gas

Firms:

Ashurst

Party: Abu Dhabi National Oil Company (Adnoc) (Seller)

CERHA HEMPEL

Party: OMV (Acquirer)

Lawyers: Clemens Hasenauer, Harald Stingl, Lorenz Pracht

Linklaters

Party: Eni (Acquirer)

Lawyers: Mark Russell, Nicholas Edwards

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