By Pierre Bertrand
Abu Dhabi National Oil Co said that it has closed its acquisition of a 24.9% stake in Austrian energy and chemicals company, OMV.
The Emirati oil and gas company, commonly known as Adnoc, said that it acquired the stake from Mubadala Investment Co.
Adnoc didn’t give financial details about the acquisition, which was first disclosed by Adnoc back in December 2022.
The acquisition comes as Adnoc and OMV remain in talks about a potential merger of Borouge and Borealis, an OMV spokesman said in a statement to Dow Jones Newswires.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
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