OMV together with its core shareholder International Petroleum Investment Company (IPIC), is planning on incorporating AMI Agrolinz Melamine International GmbH (AMI) into Borealis. OMV and IPIC each hold 50% of AMI. The final decision will be made in the course of the first half of 2007.
Our view: The plan reflects OMV's intention to focus further on its core business. However through ownership of 35% stake of Borealis the company could still profit from the growing plastics market. We expect neutral market reaction to the news.