OMV, ADNOC to merge polyolefins businesses in $60B joint venture
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2025
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Source: SeekingAlpha
Joint Venture Formation: Austria's OMV and Abu Dhabi National Oil Company have merged their polyolefin businesses to form a $60 billion joint venture named Borouge Group International, which will acquire Canada's Nova Chemicals for $13.4 billion.
Ownership Structure and Financial Details: OMV will contribute approximately $1.68 billion in cash to the new company, with both OMV and Adnoc holding around 47% ownership each, while the remainder will be publicly traded on the Abu Dhabi Securities Exchange and later on the Vienna Stock Exchange.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
