The company "Burooj Beil Al Siy", operating on the Abu Dhabi stock exchange, announced new details of the agreement between "Adnok" and "Omv" regarding the proposed merger.
According to the agreement, "Omv" will acquire 15% of the shares of the merged company after the deal is finalized. According to the statement, this corresponds to approximately 5.76 billion dollars.
"Adnok" will retain the controlling stake in the new company, while "Omv" will receive a representative in the Council of Directors. The new company will also have an independent chairman, appointed from among the independent directors. The details of the deal are pending approval by regulatory bodies and the general meeting of shareholders of "Adnok".
