Eni SPA and OMV AG will buy interests in ADNOC Refining at prices that Abu Dhabi National Oil Co. said establishes the enterprise value of its refining subsidiary, with its 922,000-b/d of refining capacity, at $19.3 billion. Eni will acquire a 20% interest for about $3.3 billion after deduction of net debt and adjustments, making the enterprise value of its share about $3.9 billion. OMV will pay an estimated $2.5 billion for a 15% stake with an enterprise value estimated at $2.9 billion.

Source: News