# 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.

- Type: Acquisition
- Announced: 2020-01-09
- Where: Houston, Texas, United States
- Status: announced
- Products: polyethylene, chemicals, plastic resins
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Borealis](https://endata.com/companies/242.md) (acquirer)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Novealis Holdings LLC](https://endata.com/companies/34723.md) (target)

## Sources

- [borealisgroup.com](https://www.borealisgroup.com/news/borealis-to-acquire-nova-chemicals-ownership-interest-in-novealis-joint-venture), 2020-01-09: "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”)."
- [globenewswire.com](https://www.globenewswire.com/news-release/2020/01/09/1968550/0/en/borealis-to-acquire-nova-chemicals-ownership-interest-in-novealis-joint-venture.html), 2020-01-09: "Borealis and NOVA Chemicals today announced they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC"

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