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Mar 4, 2025ACQUISITIONCanada

ADNOC and OMV merge polyolefin businesses, acquire Nova Chemicals for $13.4B

ADNOC and OMV agreed to merge their Borouge and Borealis subsidiaries and acquire Nova Chemicals Corporation for $13.4 billion, forming Borouge Group International (BGI), the world's fourth-largest polyolefin company.

Value

$13.4B

Status

Announced

Capacity

13.6 million tons per annum polyolefins

Productspolyolefinspolyethyleneethylene

CompaniesBorealis partner OMV S.p.A. partner NOVA Chemicals target Mubadala Investment Company partner Borouge partner Abu Dhabi National Oil Company (Adnoc) partner

Sectors#Plastics and Polymers #Specialty Chemicals

“Following the takeover, the newly formed firm, Borouge Group International (BGI), will become the world’s fourth-largest polyolefin company”al-monitor.com

1 source
al-monitor.comUAE’s ADNOC, Austria’s OMV merge businesses to create $60B plastics firm - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012Jack DuttonMar 4, 2025

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

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