Key Developments: OMV AG (OMVKY.PK)
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17 May 2013
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Latest Key Developments (Source: Significant Developments)
OMV AG Buys RWE AG's Stake In Nabucco Gas Pipeline Project-Reuters
Reuters reported that OMV AG has bought German utility RWE AG's nearly 17% stake in the Nabucco pipeline project that aims to bring Caspian gas to Europe. An OMV spokesman confirmed media reports about the sale but gave no financial details. RWE also confirmed the stake was transferred on March 1 but gave no price or other details. OMV Chief Executive Gerhard Roiss had said in December that talks with RWE on a sale were under way. Both companies own 16.67% stakes in the project. A decision on which pipeline project will get the contract of delivering Azeri gas to Europe is due within months. Nabucco is competeing against the Trans Adriatic Pipeline group. RWE had said in May it was reviewing the Nabucco project. OMV and its partners have proposed a scaled-down version of the project called Nabucco West that would run from Turkey's western border to Austria. Nabucco West foresees the construction of a 1,300 km pipeline from the Bulgarian/Turkish border to Austria. Full Article
OMV AG Announces FY 2012 Dividend Proposal
OMV AG announced that its Executive Board proposes a dividend of EUR 1.20 per share for fiscal year 2012. On May 10, 2012, the Ordinary Annual General Meeting approved the payment of a dividend of EUR 1.10 per share for fiscal year 2011. Full Article
OMV AG Sells Lagermanagementgesellschaft m.b.H. to Erdoellagergesellschaft m.b.H.
OMV AG announced that together with Erdoellagergesellschaft m.b.H. (ELG), they have agreed have agreed the sale of Lagermanagementgesellschaft m.b.H. (LMG, a 100% subsidiary of OMV AG) to ELG. The parties have agreed not to disclose the purchase price. Full Article
OMV AG to Divest 45% Stake in Bayernoil Raffinerie GmbH by 2014-Dow Jones Global Equities News
Dow Jones Global Equities News reported that OMV AG will divest its 45% stake in the German refinery Bayernoil Raffinerie GmbH by 2014, according to material presented by OMV AG at its London media summit. OMV AG announced in January 2012 that it would focus its refinery business on refineries with integrated petrochemical or upstream operations, which Bayernoil Raffinerie GmbH does not have. OMV AG said then it was evaluating the stake. A month ago, OMV AG's Chief Executive Mr. Gerhard Roiss told Dow Jones Newswires that they were in talks to divest the stake, but declined to comment further. Full Article
OMV AG to Start Trading on Bucharest Stock Exchange on August 23, 2012-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that shares of OMV AG will start trading on the Bucharest Stock Exchange on August 23, 2012, the bourse said. The Company’s shares will be traded on the Alternative Trading System of the Bucharest bourse. Romanian brokerage house Tradeville will act as market maker for the Company. Shares issued by another 20 foreign companies, Adidas, Deutsche Telekom, E.ON, Christian Dior, Danone, Heineken, L’Oreal, Bayer, SAP, Daimler, Visa, Intel, Coca-Cola, Apple, Bank of America, Microsoft Corp., Google, McDonald's, JPMorgan Chase & Co and Merck & Co, are currently traded on Bucharest Stock Exchange's Alternative Trading System platform. Full Article
Total SA Wins Exploration Rights in Bulgarian Sector of Black Sea With OMV AG and Repsol SA-Interfax: Russia & CIS Energy Newswire
Interfax: Russia & CIS Energy Newswire reported that Total SA has secured the right to explore a gas block in the Bulgarian sector of the Black Sea. The application for participation in the exploration for the development of the Khan Asparuh gas block in the Black Sea was made in the beginning of July 2012. The Company will work jointly with OMV AG and Repsol SA. The Khan Asparuh block covers 15,000 square kilometers. According to data generated by geological survey, it might contain up to 500 billion cubic meters of gas. Full Article
OMV AG Sells Stake in Beryl Area Fields; Buys Stake in Tobermory and Bunnehaven from Statoil ASA; Sells Stake in Boa Field and Divests Stakes in P.090A and P.631 to Bridge Energy ASA-Reuters
Reuters reported that OMV AG has sold its 5% stake in the Beryl Area fields for USD 118 million to an unidentified buyer and bought a 17.5% stake in the Tobermory and Bunnehaven discoveries from Statoil ASA in exchange for a 30% stake in Mariner East. OMV AG has also sold 1.5% of the Boa field to Bridge Energy ASA for USD 18 million. OMV AG has also agreed to divest a 13.6% stake in licenses P.090A and P.631 to Bridge Energy ASA. Full Article
OMV AG Completes Capital Increase
OMV AG announced that it has successfully completed a capital increase by issuing 27,272,727 shares or 9.09% of its existing share capital. The subscription and offer price of the new shares was set at EUR 27.50. OMV generated net proceeds of approximately EUR 725 million, which it will use to refinance the acquisitions of an additional 55.40% interest in Petrol Ofisi and of two Tunisian exploration and production subsidiaries from Pioneer Natural Resources as well as for general corporate purposes. Existing shareholders have exercised approximately 65% of their subscription rights. OeIAG and IPIC fully exercised their respective subscription rights. OeIAG will keep its current stake in OMV at 31.5% and IPIC will keep its current stake in OMV at 20%. Following the registration of the capital increase, OMV's share capital will increase from EUR 300,000,000 to EUR 327,272,727. Trading in the new shares on the Vienna Stock Exchange is expected to commence on June 8, 2011. The new shares will be fully entitled to dividends for the financial year 2011. BofA Merrill Lynch, Barclays Capital, Deutsche Bank, J.P. Morgan and UniCredit act as Joint Global Coordinators and Joint Bookrunners in the capital increase. Full Article
OMV buys RWE stake in Nabucco gas pipeline project
VIENNA, April 14 - Austrian energy group OMV has bought German utility RWE's nearly 17 percent stake in the Nabucco pipeline project that aims to bring Caspian gas to Europe, OMV said on Sunday.
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