# 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.

- Type: Acquisition
- Announced: 2023-07-19
- Value: $13.4B
- Status: announced
- Products: polyolefins, polyethylene
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [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) (target)
- [OMV S.p.A.](https://endata.com/companies/1004.md) (acquirer)
- [ADNOC](https://endata.com/companies/2481.md) (partner)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Abu Dhabi National Oil Company](https://endata.com/companies/5511.md) (acquirer)
- [Borouge](https://endata.com/companies/8678.md) (target)

## Sources

- [ogj.com](https://www.ogj.com/refining-processing/article/14296635/adnoc-omv-discuss-merging-petrochemical-businesses), 2023-07-19: "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."
- [chambers.com](https://chambers.com/articles/omv-and-adnoc-to-create-usd-60-billion-global-polyolefins-group-cerha-hempel-advised-omv), 2023-08-08: "The agreement signed by OMV and ADNOC on 3 March 2025 provides for the strategic combination of Borealis and Borouge under the name Borouge Group International"
- [quiminet.com](https://www.quiminet.com/noticias/omv-y-adnoc-buscan-fusionar-negocios-de-poliolefinas-5065026.htm), 2023-08-10: "OMV y Adnoc están explorando una posible fusión en sus negocios de poliolefinas, según ha anunciado OMV."

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