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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  OMV AG    OMV   AT0000743059

OMV AG

(OMV)
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OMV Accepts Verbund's Binding Offer for Gas Connect Austria Stake

09/23/2020 | 02:42am EST

By Giulia Petroni

 

Verbund AG said Wednesday that its binding offer for the acquisition of OMV AG's 51% stake in Gas Connect Austria GmbH has been accepted and the contract will be signed later in the day.

The Austrian electricity provider said the agreed purchase price is 271 million euros ($318 million) and the price implies an enterprise value of EUR980 million.

Verbund also said it would take Gas Connect Austria's outstanding liabilities to OMV, which as of Dec. 31, 2019 amounted to EUR165.9 million, at the time of closing.

The company doesn't expect the transaction to have any effect on its full-year guidance, as closing isn't scheduled to take place until 2021, depending on the approvals and timing of the required permits.

OMV said the transaction is expected to reduce its debt by more than EUR570 million, with a positive impact on gearing.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
OMV AG 1.53% 35.94 Delayed Quote.7.27%
VERBUND -4.04% 76 Delayed Quote.13.39%
WTI 0.06% 52.793 Delayed Quote.8.49%
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Financials
Sales 2020 18 055 M 21 948 M 21 948 M
Net income 2020 -2,16 M -2,63 M -2,63 M
Net Debt 2020 7 809 M 9 494 M 9 494 M
P/E ratio 2020 121x
Yield 2020 5,00%
Capitalization 11 751 M 14 293 M 14 286 M
EV / Sales 2020 1,08x
EV / Sales 2021 0,80x
Nbr of Employees 19 228
Free-Float 43,5%
Chart OMV AG
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OMV AG Technical Analysis Chart | OMV | AT0000743059 | MarketScreener
Technical analysis trends OMV AG
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 37,03 €
Last Close Price 35,94 €
Spread / Highest target 32,2%
Spread / Average Target 3,02%
Spread / Lowest Target -27,7%
EPS Revisions
Managers and Directors
NameTitle
Rainer Seele Chairman-Executive Board & Chief Executive Officer
Mark Garrett Chairman-Supervisory Board
Reinhard Florey Chief Financial Officer
Alyazia Ali Saleh Al-Kuwaiti Second Deputy Chairman-Supervisory Board
Christine Asperger Independent Member-Supervisory Board
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