# ADNOC acquires 24.9% stake in OMV from Mubadala

Abu Dhabi National Oil Company (ADNOC) completed the acquisition of a 24.9% stake in OMV from Mubadala Investment Company on February 29, 2024, strengthening its chemicals portfolio.

- Type: Acquisition
- Announced: 2024-02-29
- Status: completed
- Products: polyolefin solutions, polymer solutions
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [OMV S.p.A.](https://endata.com/companies/1004.md) (target)
- [ADNOC](https://endata.com/companies/2481.md) (acquirer)
- [Mubadala Investment Company](https://endata.com/companies/5162.md) (partner)

## Sources

- [fuelsandlubes.com](https://www.fuelsandlubes.com/adnoc-secures-24-9-stake-in-global-energy-firm-omv/), 2024-03-04: "On February 29, the Abu Dhabi Government-owned company announced it had bolstered its footprint in the chemicals sector with the completed acquisition of a 24.9% stake in OMV, from Mubadala Investment Company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.