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CERHA HEMPEL advised OMV in connection with purchase of stake in Borealis AG

CERHA HEMPEL Rechtsanwälte GmbH advised OMV in connection with the purchase of an additional 39% stake in Borealis AG from Mubadala for a purchase price of USD 4.68 billion.

CERHA HEMPEL Rechtsanwälte GmbH advised OMV in connection with the purchase of an additional 39% stake in Borealis AG from Mubadala for a purchase price of USD 4.68 billion. OMV, which currently holds 36% of the shares in Borealis, will thereby increase its stake in Borealis to 75%.

The transaction is expected to be completed by the end of 2020 and is subject, among other things, to regulatory approvals (such as merger control).

The OMV In-house Legal Team was led by Dr. Andreas Aigner, LL.M., Vice President M&A Legal and included Dr. Bernhard Mörth and Dr. Bernhard Priemayer (both Senior Counsel M&A Legal). Andreas Aigner: "I am very pleased that we were able to successfully conclude this strategically important transaction for OMV in the petrochemical sector. This will turn OMV into a global oil, gas and chemicals group. This deal is the largest M&A transaction by an Austrian company to date".

The CERHA HEMPEL team led by Dr. Clemens Hasenauer, LL.M./MBA, Head of Department Corporate Transactions, provided OMV with comprehensive legal advice on the transaction. Clemens Hasenauer commented: "This transaction underlines that our dedicated team provides effective and high quality advice on large transactions in a challenging M&A environment".

Besides Clemens Hasenauer (Partner; Corporate and M&A), the CERHA HEMPEL team consisted of Johannes Prinz (Partner; M&A and Tax), Harald Stingl (Partner; Corporate and M&A), Lorenz Pracht (Partner; Corporate and M&A), Alexander Reich-Rohrwig (Attorney at Law; Corporate and M&A), Ferdinand Guggenmos, Michael Ebner, Julia Digruber (all associates; Corporate and M&A).