# OMV decides to pursue negotiations with ADNOC on polyolefins cooperation

OMV's Executive Board decided on 14 July 2023 to pursue negotiations with ADNOC on a potential cooperation regarding their polyolefins businesses, including a possible combination of Borealis and Borouge as equal partners under a listed platform.

- Type: Partnership
- Announced: 2023-07-14
- Value: $20.0B
- Status: announced
- Products: polyolefins
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [OMV S.p.A.](https://endata.com/companies/1004.md)
- [Borealis](https://endata.com/companies/242.md) (partner)
- [Borealis](https://endata.com/companies/242.md) (target)
- [OMV S.p.A.](https://endata.com/companies/1004.md) (partner)
- [ADNOC](https://endata.com/companies/2481.md) (partner)
- [Abu Dhabi National Oil Company](https://endata.com/companies/5511.md) (partner)
- [Borouge](https://endata.com/companies/8678.md) (partner)

## Sources

- [omv.com](https://www.omv.com/en/media/press-releases/2023/omv-decides-to-pursue-negotiations-with-adnoc-on-a-potential-cooperation-regarding-their-polyolefins-businesses), 2023-07-14: "The Executive Board of OMV has just decided to pursue negotiations with ADNOC on a potential cooperation with respect to their polyolefins businesses."
- [reuters.com](https://www.reuters.com/markets/deals/omv-enter-talks-with-adnoc-form-chemicals-jv-2023-07-14/), 2023-07-14: "OMV said on Friday it will enter negotiations with Abu Dhabi National Oil Co (ADNOC) with a view to creating a chemicals giant from the combination of two entities in which both companies own stakes."

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