Adnoc and OMV to merge polyolefins units and acquire Nova Chemicals for $13.4B

Abu Dhabi National Oil Co. (Adnoc) and Austria's OMV have agreed to combine their polyolefins businesses into a new equally owned company, Borouge Group International, which will also acquire Nova Chemicals from Mubadala Investment Co. for $13.4 billion.

“Adnoc and OMV have agreed on key commercial terms to combine their cross-owned polyolefins businesses into an equally owned, Vienna-headquartered company that will also acquire Canada-based Nova Chemicals for an enterprise value of $13.4 billion.”energyintel.com

• 2 sources
• energyintel.comAdnoc, OMV Agree on Creating Polyolefin Giant | Energy IntelligenceAuthor Oliver Klaus, Dubai Editor Massoud DerhallyMar 4, 2025
• theobserver.caChemical giants say they'll merge units, buy Nova Chemicals for $13.4B | The Sarnia ObserverPaul MordenMar 4, 2025

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