# Borealis acquires NOVA Chemicals' 50% stake in Novealis joint venture

Borealis completed the acquisition of NOVA Chemicals' 50% ownership interest in Novealis Holdings LLC, giving Borealis full ownership of the joint venture. Novealis holds a 50% stake in Bayport Polymers (Baystar) in Houston, Texas.

- Type: Acquisition
- Announced: 2020-04-15
- Where: Houston, Texas, United States
- Status: completed
- Products: polyolefins, polyethylene
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [NOVA Chemicals](https://endata.com/companies/2940.md)
- [Borealis](https://endata.com/companies/242.md) (acquirer)
- [Total](https://endata.com/companies/406.md) (partner)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (partner)
- [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-acquires-full-ownership-of-nova-chemicals-interest-in-novealis-joint-venture), 2020-04-15: "Borealis has completed the acquisition of NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC."
- [ptonline.com](https://www.ptonline.com/news/borealis-completes-acquisition-of-novas-50-ownership-share-in-novealis), 2020-04-15: "This acquisition supports our global growth ambitions."
- [globenewswire.com](https://www.globenewswire.com/news-release/2020/04/15/2016709/0/en/NOVA-Chemicals-completes-sale-of-interest-in-Novealis-joint-venture.html), 2020-04-15: "NOVA Chemicals today announced that it has completed the previously announced sale of its 50% ownership interest in Novealis Holdings LLC to Borealis AG."
- [canplastics.com](https://www.canplastics.com/materials/borealis-acquires-full-ownership-of-nova-chemicals-interest-in-novealis-joint-venture/1003452728/), 2020-04-16: "Acquiring Nova Chemicals' share in Novealis will allow us to further increase our footprint in North America, enabling us to better serve our customers in this region with our value-add Borstar technology."

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