By Mauro Orru

OMV AG said Thursday that it is in negotiations on an exclusive basis with Austrian energy company Verbund AG for the potential disposal of its 51% stake in Gas Connect Austria GmbH.

Verbund said its executive board is weighing the rationale behind the potential acquisition of the stake.

OMV said it plans to exit the regulated gas transport business.

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

(END) Dow Jones Newswires

March 12, 2020 04:40 ET (08:40 GMT)

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