PARIS, France - Abu Dhabi Oil Company (ADNOC) has agreed to acquire a 24/9% shareholding in Austria oil and gas group OMV from Abu Dhabi state fund Mubadala Investment Company, two sources familiar with the matter told Reuters.
The two Abu Dhabi government-related entities have been in recent weeks over the stake, the sources said, declining to be named as the matter is not public.
The transaction is subject to regulatory approvals, said the sources.
Mubadala's stake in OMV is valued at around $4.1 billion, according to data from Refinitiv.
ADNOC and Mubadala did not immediately respond to a request for comment when contacted by Reuters on Wednesday.
The transaction comes after Mubadala Petroleum rebranded to Mubadala Energy in September to pursue new energy sectors including blue hydrogen and carbon capture, and as Abu Dhabi's ADNOC looks to increase its presence internationally through mergers and acquisitions.
ADNOC in April this year agreed to acquire a 25% stake from Mubadala in European petrochemical maker Borealis, which is 75% owned by OMV.
