Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

OMV AG

(OMV)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

OMV : Austrian utility OMV sells gas pipeline unit to Verbund

09/23/2020 | 04:11am EST
Logo of Austrian oil and gas group OMV is seen at a gas station in Vienna

Austrian utility OMV said on Wednesday it will sell a majority stake in its gas pipeline subsidiary to rival Verbund, a deal that will help OMV reduce debt and finance its acquisition of a leading plastics maker.

In early March, OMV had said it would make divestitures worth $2.3 billion to finance a multi-billion dollar deal to buy one of the world's leading polymer producers, Borealis.

For OMV, this transaction will also lead to a debt reduction of more than 570 million euros ($666.16 million), it said.

Verbund will buy a 51% stake for 271 million euros in cash and assume its outstanding liabilities to OMV as of the date of transaction, the companies said.

At the end of 2019, the debt amounted to 165 million euros.

The two companies had held exclusive negotiations for months until Verbund submitted a binding offer in mid-June.

The buyer added it does not expect the transaction to have any effects on its full-year 2020 guidance as the closing will not take place until 2021.

(Reporting by Zuzanna Szymanska in Gdansk; editing by Jason Neely and Tomasz Janowski)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
OMV AG -1.76% 36.82 Delayed Quote.11.58%
VERBUND -3.11% 74.8 Delayed Quote.7.09%
All news about OMV AG
01/14OMV : Borealis and TOMRA open state-of-the-art plant for post-consumer plastic w..
PU
01/14OMV Q4/20 TRADING UPDATE : Key Performance Indicators
PU
01/11OMV AG : annual sales release
01/06Northern German state plans foundation to help complete Nord Stream 2 gas lin..
RE
2020Nord Stream 2 gas pipeline says has completed section in German waters
RE
2020Russian Nord Stream 2 pipe-laying vessel leaves German site, indicating proje..
RE
2020Russian Nord Stream 2 pipe-laying vessel leaves German site, indicating proje..
RE
2020Nord Stream 2 to start laying gas pipes in Danish waters -regulator
RE
2020OMV shuns further deals as CEO sees bright future in chemicals
RE
2020OMV : First delivery AustroCel Hallein supplies OMV with advanced bioethanol
AQ
More news
Financials
Sales 2020 18 055 M 21 801 M 21 801 M
Net income 2020 47,2 M 57,0 M 57,0 M
Net Debt 2020 7 822 M 9 445 M 9 445 M
P/E ratio 2020 132x
Yield 2020 4,89%
Capitalization 12 039 M 14 556 M 14 537 M
EV / Sales 2020 1,10x
EV / Sales 2021 0,82x
Nbr of Employees 19 228
Free-Float 43,5%
Chart OMV AG
Duration : Period :
OMV AG Technical Analysis Chart | OMV | AT0000743059 | MarketScreener
Technical analysis trends OMV AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 36,36 €
Last Close Price 36,82 €
Spread / Highest target 27,6%
Spread / Average Target -1,25%
Spread / Lowest Target -29,4%
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
Sector and Competitors
1st jan.Capitalization (M$)
OMV AG11.58%14 556
EXXON MOBIL CORPORATION16.18%202 490
RELIANCE INDUSTRIES LTD-2.41%168 168
BP PLC18.70%83 090
CHINA PETROLEUM & CHEMICAL CORPORATION14.70%75 625
NESTE OYJ2.13%56 091