Merger proposal of MOL and OMV, the two regional heavy-weight players

From the Section 1.2 of Form CO:  

COMP/M. 4799 – OMV / MOL – SECTION 1.2

Description of the concentration

This Form CO concerns the proposed combination of OMV Aktiengesellschaft, Vienna/Austria (“OMV”), and MOL Hungarian Oil and Gas plc, Budapest/Hungary(“MOL”), hereinafter referred to as the “Transaction”. Currently, OMV is holding  merely a non-controlling 20.2% minority interest in MOL. OMV is a publicly listed, integrated oil and gas company. OMV has two major shareholders, which are  Österreichische Industrieholding AG, Vienna/Austria (“ÖIAG”), and International Petroleum Investment Company, Abu Dhabi/UnitedArab Emirates (“IPIC”), holding 31.5% and 17.6% of OMV’s outstanding voting securities respectively. ÖIAG is the Austrian Republic’s investment and privatization agency (and a mere holding company). IPIC is an investment company which is wholly owned by the Emirate of Abu Dhabi.

MOL is a publicly listed and integrated oil and gas company with a strong focus on Central and Eastern Europe. The undertakings concerned are active in the following sectors:

– OMV: Exploration, production and refining of crude oil; distribution of refined oil products; petrochemicals; natural gas (predominately in Austria).

– MOL: Exploration, production and refining of crude oil; distribution of refined oil products; petrochemicals; exploration/production and transmission of natural gas (in Hungary).

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