By Pierre Bertrand


OMV said it has reached an agreement with TotalEnergies for the sale of its 50% stake in its Malaysian joint venture for $903 million.

The closing of the transaction for the stake in SapuraOMV is expected around the end of the second quarter, the Austrian oil-and-gas company said Wednesday.

The deal includes the repayment of an outstanding $350 million loan granted by OMV to the joint venture, OMV said.

SapuraOMV, headquartered in Kuala Lumpur, is a 50-50 joint venture between OMV and Sapura Energy.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

01-31-24 0915ET