ENI and OMV agreed to pay a combined $5.8 billion to acquire a stake in ADNOC’s refining business and establish a new trading JV owned by the three companies. For
Eni, the deal facilitates its diversification away from Africa, while OMV acquires its first
non-European downstream business. Through the trading JV, ADNOC
expands its access to European markets. The transaction is expected to be
completed during Q3.
Italy’s Eni will pay $3.3 billion to pick
up a 20% stake and......
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