By Mauro Orru

OMV AG said Friday that it is negotiating with Mubadala Investment Co. to buy a further 39% stake in Borealis AG for $4.68 billion.

The Austrian oil-and-gas company said the transaction would increase its shareholding in Borealis to 75% from 36%, with Mubadala's shareholding falling to 25% from 64%.

OMV said that its supervisory board hasn't made a final decision for the potential transaction.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 06, 2020 13:14 ET (18:14 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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