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BRIEF-OMV AG completes sale of 49 pct stake in Gas Connect Austria
December 15, 2016 / 2:25 PM / in 7 months

BRIEF-OMV AG completes sale of 49 pct stake in Gas Connect Austria

1 Min Read

Dec 15 (Reuters) - OMV AG :

* Completes sale of a 49 percent minority stake in Gas Connect Austria (GCA) to Allianz and Snam

* Closing of the transaction follows the receipt of the merger control clearance by German and Austrian authorities on the deal

* Following this transaction, OMV holds an interest of 51 percent in GCA

* Cash consideration paid by the consortium to OMV is equal to 601 million euros ($627.26 million) (including 147 million euros for the pro-rata reimbursement of the existing shareholder loan) Further company coverage: ($1 = 0.9581 euros) (Gdynia Newsroom)

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