OMV to Sell Stake in Malaysian JV to TotalEnergies for $903 Million
By Pierre Bertrand
OMV said it has reached an agreement with TotalEnergies for the sale of its 50% stake in its Malaysian joint venture for $903 million.
The closing of the transaction for the stake in SapuraOMV is expected around the end of the second quarter, the Austrian oil-and-gas company said Wednesday.
The deal includes the repayment of an outstanding $350 million loan granted by OMV to the joint venture, OMV said.
SapuraOMV, headquartered in Kuala Lumpur, is a 50-50 joint venture between OMV and Sapura Energy.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 31, 2024 09:15 ET (14:15 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing