CERHA HEMPEL Rechtsanwälte GmbH advised OMV in connection with the purchase of an additional 39% stake in Borealis AG from Mubadala for a purchase price of USD 4.68 billion. OMV, which currently holds 36% of the shares in Borealis, will thereby increase its stake in Borealis to 75%.

The transaction is expected to be completed by the end of 2020 and is subject, among other things, to regulatory approvals (such as merger control). The OMV In-house Legal Team was led by Dr. Andreas Aigner, LL.M., Vice President M&A Legal and included Dr. Bernhard Mörth and Dr. Bernhard Priemayer (both Senior Counsel M&A Legal). Andreas Aigner: "I am very pleased that we were able to successfully conclude this strategically important transaction for OMV in the petrochemical sector. This will turn OMV into a global oil, gas and chemicals group. This deal is the largest M&A transaction by an Austrian company to date".

The CERHA HEMPEL team led by Dr. Clemens Hasenauer, LL.M./MBA, Head of Department Corporate Transactions, provided OMV with comprehensive legal advice on the transaction. Clemens Hasenauer commented: "This transaction underlines that our dedicated team provides effective and high quality advice on large transactions in a challenging M&A environment". Besides Clemens Hasenauer (Partner; Corporate and M&A), the CERHA HEMPEL team consisted of Johannes Prinz (Partner; M&A and Tax), Harald Stingl (Partner; Corporate and M&A), Lorenz Pracht (Partner; Corporate and M&A), Alexander Reich-Rohrwig (Attorney at Law; Corporate and M&A), Ferdinand Guggenmos, Michael Ebner, Julia Digruber (all associates; Corporate and M&A).

CERHA HEMPEL
With offices in Austria, Belarus, Bulgaria, Czech Republic, Hungary, Romania and Slovakia, CERHA HEMPEL is one of Austria's largest and most renowned law firms. For more than nine decades, CERHA HEMPEL has been developing creative and groundbreaking solutions for its clients, as well as providing them with a personal service and expertise in the following areas: antitrust and competition, banking and finance, capital markets, corporate law, data protection and IT, distribution, employment law, insolvency and restructuring, IP and unfair competition, litigation and arbitration, mergers and acquisitions, private clients and trusts, private equity and venture capital, public commercial and European law, real estate and construction, tax law, and white collar crime.

CERHA HEMPEL has won numerous awards and in 2019 it was named "Austrian Law Firm of the Year" by JUVE. Furthermore, CERHA HEMPEL is a member of Lex Mundi – The World’s Leading Association of Independent Law Firms – and demonstrates its commitment to the arts as a corporate partner of the Albertina.

 

For more information:
Dr. Clemens Hasenauer LL.M./MBA
Managing Partner
CERHA HEMPEL
Rechtsanwälte GmbH
Parkring 2, A-1010 Vienna
Tel.: +43/1/514 35-321
clemens.hasenauer@cerhahempel.com
www.cerhahempel.com

MMag. Edith Müller
Head of Communications
CERHA HEMPEL
Rechtsanwälte GmbH
Parkring 2, A-1010 Vienna
Tel.: +43/1/514 35-265
edith.mueller@cerhahempel.com
www.cerhahempel.com