OMV in return will sell its petrochemical unit PCD Polymere GmbH to Borealis, the largest polyolefine producer in Europe.
2.
The joint venture company would combine the assets of Repsol Quimica's plastics division with those of PCD-Polymere.
3.
The new company, which has yet to be named, would be 50 percent owned by Repsol SA and 50 percent by OMV's plastics unit PCD-Polymere GmbH.
4.
Under the terms of the agreement, OMV, Austria's largest company and the nation's oil and gas producer, will also sell its 100 percent-owned petrochemical unit, PCD Polymere GmbH, to Borealis, though it declined to disclose a sales price.
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