OMV to sell 49% of Austrian gas unit
OMV AG has agreed to sell a 49% interest in wholly owned Gas Connect Austria GMBH (GCA) to a combine of the European insurance group Allianz and Snam SPA.
Total cash consideration is €601 million, which includes a €147-million adjustment of shareholder debt.
GCA operates a 900-km high-pressure natural gas pipeline network in Austria. Total throughput last year was 152 billion m of gas.