Change in Borealis ownership structure final
Following receipt of the necessary regulatory approvals, the transaction announced on June 30 in which the International Petroleum Investment Company (IPIC) of Abu Dhabi and OMV Aktiengesellschaft of Austria agreed to purchase Statoil's 50% shareholding in Borealis A/S, has been closed.
The new ownership of Borealis is 65% IPIC and 35% OMV. The Deputy CEO of OMV, remains the Chairman of Borealis A/S and the Managing Director of IPIC, will be the Vice Chairman. Both IPIC and OMV are fully supportive of Borealis' value creation through innovation strategy. Statoil will remain as a major long-term feedstock supplier to Borealis.