By Mauro Orru

OMV AG said Wednesday that it has agreed contractual terms with Mubadala Investment Co. to acquire a further 39% stake in Austrian chemicals company Borealis AG for $4.68 billion.

OMV said its supervisory board hasn't made a final decision for the potential transaction. The transaction would increase OMV's shareholding in Borealis to 75% from 36%, with Mubadala's shareholding falling to 25% from 64%.

OMV said on March 6 that it was in negotiations with Mubadala to increase its stake in Borealis.

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

(END) Dow Jones Newswires

March 11, 2020 07:26 ET (11:26 GMT)

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