OMV Aktiengesellschaft

EANS-Adhoc: OMV Aktiengesellschaft
OMV has reached an agreement for the sale of OMV (U.K.) Limited

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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is solely responsible for the content of this announcement.
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other/OMV / oil / gas / Austria / United Kingdom / Upstream / OMV (U.K.) Limited
08.11.2016


OMV has reached an agreement for the sale of 100% of the shares in its wholly
owned subsidiary OMV (U.K.) Limited to Siccar Point Energy Limited, Aberdeen.
The transaction was approved in today's meeting of the Supervisory Board of OMV
but is, however, still subject to signing of the relevant transaction
documentation by the parties. The signing is expected to take place during the
course of today. 

The overall transaction value is envisaged to amount to up to USD 1 billion. It
consists of a firm payment of USD 750 million and a contingent payment related
to the Rosebank Final Investment Decision in the amount of up to USD 125
million. On top, the parties agreed on a purchase price adjustment with respect
to CAPEX as of the effective date of the transaction on January 1, 2016. This
results in a further consideration in the amount of approximately USD 125
million. 

OMV expects a negative effect on OMV's Group EBIT according to IFRS of
approximately EUR 350 million at current exchange rates. This includes a loss on
sale of approximately EUR 458 million, envisaged to be offset by foreign
exchange gains of approximately EUR 100 million related to foreign operations
that are expected to be realized at closing. 

The transaction is subject to conditions, including regulatory approvals and is
anticipated to close in Q1 2017.


Further inquiry note:
OMV
Investor Relations:
Magdalena Moll
Tel. +43 1 40 440-21600
e-mail: investor.relations@omv.com

Public Relations:
Robert Lechner 
Tel. +43 1 40 440-21472
e-mail: public.relations@omv.com
 
Internet Homepage: http://www.omv.com

end of announcement                               euro adhoc 
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issuer:      OMV Aktiengesellschaft
             Trabrennstraße  6-8
             A-1020 Wien
phone:       +43 1 40440/21600
FAX:         +43 1 40440/621600
mail:     investor.relations@omv.com
WWW:      http://www.omv.com
sector:      Oil & Gas - Downstream activities
ISIN:        AT0000743059
indexes:     ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English
 



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