Abu Dhabi sovereign wealth fund’s Mubadala is expected to complete the sale of its 25% stake in petrochemicals group Borealis (BESGR.UL), the chief executive of the plastic maker’s majority owner OMV said on Friday.
“Twenty-five per cent is currently owned by Mubadala and that 25 per cent is under discussion and will probably change hands,” Alfred Stern said on Friday.
Mubadala, which also holds 24.9% in OMV, had agreed to sell its 25% stake in Borealis to ADNOC in April but the deal has yet to close.
OMV holds the remaining 75%.
Source: Reuters.com