ADNOC and OMV enter negotiations to merge Borealis and Borouge into new petrochemicals company

ADNOC and OMV Group have entered formal negotiations to potentially merge their interests in Borealis AG and Borouge PLC into a new jointly owned petrochemicals company, held equally by both partners. The deal is preliminary and subject to approvals.

“ADNOC and OMV Group have entered formal negotiations to potentially form a new jointly owned petrochemicals company via the proposed merger of the operators’ existing individual interests in their Borealis AG and Borouge PLC ventures.”ogj.com

• 3 sources
• ogj.comADNOC, OMV discuss merging petrochemical businesses | Oil & Gas JournalRobert BrelsfordJul 19, 2023
• chambers.comOMV and ADNOC to create USD 60 + billion global polyolefins group - CERHA HEMPEL advised OMV | Press Release | Chambers and PartnersAug 8, 2023
• quiminet.comOMV y Adnoc buscan fusionar negocios de poliolefinas | QuimiNetQuimiNet.com, Marketizer.com, eIndustria.comAug 10, 2023

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