The buyer is a consortium of German insurance giant Allianz Group and Italian infrastructure company Snam.
The sale "advances OMV's strategy to restructure the downstream gas assets and to reduce its exposure to the regulated gas business", OMV said.
The acquisition will be completed through a jointly controlled vehicle owned 60%-40% by Allianz and Snam, which has secured binding non-recourse financing commitments up to €310 million by a pool of international banks.
