◂ Announcements

Jan 21, 2025ACQUISITIONUnited Arab Emirates

ADNOC and OMV to combine petrochemical holdings into Borouge Group International

ADNOC and OMV are combining their petrochemical holdings—Borealis, Borouge, and Nova Chemicals—to form Borouge Group International, the fourth-largest polyolefins producer globally. ADNOC will also acquire Nova Chemicals for $13.4 billion. The new firm will be formed in 2026.

Value

$13.4B

Status

Announced

Capacity

13.6 million metric tons of polyolefins

Productspolyolefinsethylene

CompaniesADNOC Borealis target OMV S.p.A. partner ADNOC acquirer NOVA Chemicals target Mubadala Investment Company investor Borouge target

Sectors#Specialty Chemicals #Plastics and Polymers

“The new firm will merge European chemical maker Borealis, which is owned 75% by OMV and 25% by ADNOC, with Borouge, a United Arab Emirates polyolefins maker.”cen.acs.org

3 sources
cen.acs.orgBusiness briefingJan 21, 2025
adnoc.aeADNOC Update on Potential Polyolefin Opportunities - ADNOCFeb 1, 2025
chemanalyst.comADNOC and OMV in Advanced Talks for Strategic Polyolefins Joint VentureJung HoonFeb 3, 2025

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

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