OMV: No Intention to Sell Stake in Borealis

Posted by Eric Haun March 27, 2015

Austrian energy group OMV does not plan to sell its 36-percent stake in plastics maker Borealis, supervisory board chief Rudolf Kemler said on Friday.

Abu Dhabi's IPIC, which holds around a quarter of OMV, owns the remaining 64 percent in Borealis. Rumours that IPIC wants to exit OMV are not true, Kemler said.

(Reporting by Alexandra Schwarz-Goerlich; writing by Shadia Nasralla; editing by Jason Neely)