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Austria: CERHA HEMPEL advises OMV in connection with the establishment of a USD 60+ billion global polyolefins group, which is unique in Austrian business history

05 March 2025 by CERHA HEMPEL - Austria

The agreement signed by OMV and ADNOC on 3 March 2025 provides for the strategic combination of Borealis and Borouge under the name Borouge Group International – marking the historic birth of a new global group with headquarters and corporate seat in Vienna and regional headquarters in Abu Dhabi. Coupled with such merger is the purchase of all shares in the Canadian company NOVA Chemicals by ADNOC at an enterprise value of USD 13.4 billion, with a later transfer to Borouge Group International.