OMV sells part of Nabucco West shares to GDF SUEZ

OMV sells 9% of stake in NABUCCO gas pipeline to GDF Suez

The transaction followed OMV's purchase of the stake from RWE.
The transaction followed OMV's purchase of the stake from RWE.

OMV has sold approximately nine per cent of the NABUCCO Gas Pipeline International GmbH to GDF SUEZ.

This transaction comes shortly after OMV has taken over the stake from the former shareholder RWE. Closing of the transaction is subject to certain conditions and expected to occur in H2 2013.

Gerhard Roiss, OMV Chief Executive Officer: “Having GDF SUEZ as new partner for Nabucco West is another milestone for the project. It proves that we are on the right way to provide Europe with more gas and to secure new sources of gas for the future.” The step of the new partner from France is also a clear sign of the broad pan-European backing for Nabucco West. Following closing, the company is owned by six reliable partners: BEH (Bulgaria), BOTAS (Turkey), FGSZ (Hungary), GDF SUEZ (France), OMV (Austria) and Transgaz (Romania).

The deal with GDF SUEZ is another important step forward. “ This year we have already seen considerable progress for Nabucco West”, adds OMV CEO Gerhard Roiss. “With this strengthened pan-European partnership we are looking forward to the upcoming decision of the Shah Deniz II consortium concerning their preferred delivery route to Europe.”

The companies have agreed not to disclose the purchase price or other conditions of the deal.

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