# 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.

- Type: Acquisition
- Announced: 2025-03-04
- Where: Canada
- Value: $13.4B
- Status: announced
- Products: polyolefins, polyethylene
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [OMV S.p.A.](https://endata.com/companies/1004.md)
- [Abu Dhabi National Oil Company](https://endata.com/companies/5511.md)
- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Mubadala Investment Company](https://endata.com/companies/5162.md) (investor)

## Sources

- [energyintel.com](https://www.energyintel.com/00000195-60fe-df2c-a9f5-6dff9e770000), 2025-03-04: "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."
- [theobserver.ca](https://www.theobserver.ca/news/local-news/nova-chemicals-to-be-purchased-as-part-of-international-corporate-merger), 2025-03-04: "Nova Chemicals is set to have a new owner following Tuesday's announcement the company will be purchased as part of a corporate merger."

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