# 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.

- Type: Acquisition
- Announced: 2025-01-21
- Where: United Arab Emirates
- Value: $13.4B
- Status: announced
- Capacity: 13.6 million metric tons of polyolefins
- Products: polyolefins, ethylene
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [ADNOC](https://endata.com/companies/2481.md)
- [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) (acquirer)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Mubadala Investment Company](https://endata.com/companies/5162.md) (investor)
- [Borouge](https://endata.com/companies/8678.md) (target)

## Sources

- [cen.acs.org](https://cen.acs.org/business/Business-briefing/103/i6), 2025-01-21: "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."
- [adnoc.ae](https://www.adnoc.ae/en/news-and-media/press-releases/2025/adnoc-update-on-potential-polyolefin-opportunities), 2025-02-01: "ADNOC confirms that negotiations with OMV AG about the potential creation of a new global polyolefins group... are ongoing in a constructive and positive manner."
- [chemanalyst.com](https://www.chemanalyst.com/NewsAndDeals/NewsDetails/adnoc-and-omv-in-advanced-talks-for-strategic-polyolefins-joint-venture-34285), 2025-02-03: "ADNOC stated that talks between the two companies are progressing in a 'constructive and positive manner.'"

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