Borealis to acquire NOVA Chemicals' 50% stake in Novealis joint venture

Borealis AG and NOVA Chemicals Corporation announced an agreement for Borealis to buy NOVA Chemicals' 50% ownership interest in Novealis Holdings LLC. Novealis is a joint venture that holds a 50/50 stake in Bayport Polymers LLC (Baystar) in Houston, Texas. The transaction is expected to close in the first half of 2020.

“Borealis AG (“Borealis”) and NOVA Chemicals Corporation (“NOVA Chemicals”) today announced they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC (“Novealis”).”borealisgroup.com

• 2 sources
• borealisgroup.comBorealis to acquire NOVA Chemicals ownership interest in Novealis Joint Venture - BorealisJan 9, 2020
• globenewswire.comBorealis to acquire NOVA Chemicals ownership interest inNOVA Chemicals CorporationJan 9, 2020

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