Abu Dhabi, UAE – Abu Dhabi National Oil Company P.J.S.C. (ADNOC) has announced plans to transfer its 24.9% shareholding in OMV AG to XRG P.J.S.C, ADNOC’s wholly-owned international investment company. This move is part of ADNOC’s strategy to consolidate its international growth investments under XRG.
The transfer is subject to regulatory approvals. Additionally, ADNOC is preparing for the proposed establishment of Borouge Group International, aiming to become a top-four global polyolefins producer. ADNOC plans to hold a 46.94% share in this new entity through XRG once the transaction receives regulatory approval.
ADNOC has emphasized its commitment to maintaining its partnership with OMV through XRG and supports the company’s ongoing growth and success.
