# OMV and XRG complete formation of Borouge International, acquiring NOVA Chemicals

OMV and XRG (ADNOC's investment arm) completed the formation of Borouge Group International AG, combining Borouge Plc and Borealis, and acquiring NOVA Chemicals. The new entity is the world's fourth-largest polyolefins producer.

- Type: Acquisition
- Announced: 2026-03-31
- Where: Austria (headquarters), Austria
- Value: $60.0B
- Status: completed
- Capacity: 13.6 million tonnes per year polyolefins
- Products: polyolefins
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Borealis](https://endata.com/companies/242.md) (target)
- [OMV S.p.A.](https://endata.com/companies/1004.md) (acquirer)
- [OMV S.p.A.](https://endata.com/companies/1004.md) (partner)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Borouge](https://endata.com/companies/8678.md) (target)
- [XRG](https://endata.com/companies/14160.md) (acquirer)

## Sources

- [omv.com](https://www.omv.com/en/investors/news-and-events/news/2026/bgi-31032026), 2026-03-31: "OMV and XRG, ADNOC’s international investment arm, today announced the successful formation of Borouge Group International AG, to operate under the brand name 'Borouge International'."
- [thenationalnews.com](https://www.thenationalnews.com/business/energy/2026/03/31/adnocs-xrg-and-omv-complete-deal-to-create-chemicals-sector-giant-borouge-international/), 2026-03-31: "Borouge International is now the world's fourth-largest polyolefins producer with premium products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.