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FILE PHOTO: A view of the logo of Austrian energy company OMV at the headquarter in Vienna, Austria, February 4, 2025. REUTERS/Lisa Leutner.
ADNOC will transfer its 24.9% stake in Austrian oil and gas group OMV AG (OMV) to its $80 billion lower-carbon energy and chemicals investment company XRG, which it launched in November last year.
The transfer is aligned with ADNOC’s strategy to consolidate its international growth investments under XRG.
XRG will also hold ADNOC’s proposed 46.94% stake in the yet-to-be established Borouge Group International upon completion of the transaction.
(Writing by Bindu Rai, editing by Seban Scaria)
