◂ Announcements

Mar 9, 2018ACQUISITIONAustria (headquarters), with regional hubs in UAE, Canada, US, Singapore, Austria

Adnoc and OMV merge Borouge and Borealis to form Borouge Group International

Adnoc and OMV announced the merger of their shareholdings in Borouge and Borealis AG to create Borouge Group International, a $60 billion global polyolefins producer. The new entity will also acquire Nova Chemicals for $13.4 billion including debt.

Value

$13.4B

Status

Announced

Productspolyolefinspolyethyleneethylene

CompaniesADNOC Borealis target OMV S.p.A. partner NOVA Chemicals target Mubadala Investment Company investor Borouge target

Sectors#Plastics and Polymers #Specialty Chemicals

“UAE's Adnoc and Austria’s OMV have announced merger of their shareholdings in Borouge and Borealis AG to create Borouge Group International, a AED220-billion ($60 billion) global integrated chemicals powerhouse.”tradearabia.com

1 source
tradearabia.comBorouge and Borealis merger to create $60bn polyolefins leaderABU DHABIMar 9, 2018

Summarized from public sources; check the original articles before acting on it.

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