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02 November 2020
press release
austria serbia

Schoenherr advises OMV on merger control and FDI proceedings i.r.o. acquisition of additional 39 % stake in Borealis from Mubadala

Schoenherr advised OMV Aktiengesellschaft ("OMV") on multi-jurisdictional merger control and foreign direct investment proceedings following OMV's acquisition of an additional 39 % stake in Borealis AG from Mubadala Investment Company PJSC. 

As OMV's antitrust lead counsel, Schoenherr coordinated fourteen merger control and foreign direct investment jurisdictions in North- and South America, Asia, North Africa, the COMESA region and Europe; Schoenherr directly represented OMV in the merger control proceedings before the European Commission, Serbia and Northern Macedonia.

"We are very proud to have been antitrust lead counsel to our longstanding client OMV in this high-level transaction. This is not only the largest transaction in OMV's history, but also of utmost strategic importance.", said Schoenherr partner Franz Urlesberger.

OMV is globally active in upstream and downstream oil and gas activities. Borealis is active in the production and commercialisation of polyolefins, base chemicals and fertilisers. Its products are used in a wide range of areas, namely energy, automotive, consumer products and pipes. OMV paid a consideration of USD 4.68 bln.

The Schoenherr team advising OMV consisted of Franz Urlesberger (partner); Johannes Frank (attorney at law); Bianca Duca (attorney at law); Srdjana Petronijevic (partner); and Jelena Obradovic (attorney at law).



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