During 2022, Mubadala monetized two of its largest international hydrocarbons investments. These comprised Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and OMV, the global energy and chemicals group listed on the Vienna Stock Exchange.
In April 2022, we agreed to sell our 24.9 percent shareholding in Borealis to ADNOC (the remaining 75 percent of the company is owned by OMV). For more than two decades, Mubadala, in partnership with OMV and ADNOC, worked to develop Borealis into a global champion, supporting the company’s growth, innovation and continuing success in sustainability.
This transaction was followed by a subsequent agreement to sell our 24.9 percent stake in OMV to ADNOC in December 2022.
Both of these transactions reflect Mubadala’s continuing strategy of monetizing assets at the right valuation and at the right time, enabling capital to be recycled into high growth sectors with secular tailwinds. The sale of these portfolio companies also significantly contributed to the decarbonization of Mubadala’s global operational footprint.
