OMV to Sell Stake in Malaysian JV to TotalEnergies for $903 Million
Provided by
Dow Jones
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)
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