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OMV To Sell $1.3B Shares For CapHike
Austrian oil and gas company, OMV, is seeking to sell $1.3 billion shares and also offload hybrid notes to raise capital.
Austrian oil and gas company, OMV, is seeking to sell $1.3 billion shares and also offload hybrid notes to raise capital, The Wall Street Journal reports. The company seeks to use the proceeds to fund the acquisitions of a stake in Turkish refiner, Petrol Ofisi, and two Tunisian exploration and production subsidiaries from Pioneer Natural Resources.
The company’s majority shareholder, Oesterreichische Industrie, will participate in the capital increase, to maintain its controlling stake of over 30%, adds Reuters. Bank of America Merrill Lynch, Barclays Capital, Deutsche Bank, JP Morgan and UniCredit will be the joint global coordinators and joint bookrunners in the capital increase program.
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