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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Should l Buy ?
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.
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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.
