OMV and ADNOC mull merger of chemicals businesses Borealis and Borouge

OMV and ADNOC are in negotiations to merge their chemicals businesses, including petrochemicals group Borealis (75:25 owned by OMV and ADNOC) and Borouge (54:36 owned by ADNOC and Borealis). The deal would create a listed entity.

“OMV, the Austrian energy company, is currently in negotiations with Abu Dhabi National Oil Company (ADNOC) regarding a potential merger of their chemicals business.”egyptoil-gas.com

• 3 sources
• egyptoil-gas.comOMV, ADNOC Mull Possible Chemicals Business Merger | Egypt Oil & GasDoaa AshrafNov 1, 2023
• news.bloomberglaw.comAdnoc, OMV Near a Deal to Form €30 Billion Chemical GiantDinesh Nair, Eyk HenningDec 14, 2023
• offshore-technology.comADNOC close to OMV deal to merge petrochemical businessesArchana RaniDec 15, 2023

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