OMV, ADNOC to merge polyolefins businesses Borouge and Borealis New entity, ‍Borouge Group International, will acquire Nova Chemicals for $13.4 billion ADNOC and OMV to have equal share in ...

Austrian energy group OMV expects the Borouge-Borealis merger to have a positive effect of 120 million euros ($140.8 million) ...

Nova Chemicals will cost the new entity $13.4 billion including debt. OMV will inject 1.6 billion euros ($1.68 billion) in cash into the business to put its shareholding on par with Adnoc, they said.

They’re aiming to reach an agreement before year-end on the proposal, which could see Adnoc and OMV each hold 47% of the combined entity, the people said. That would leave 6% as free float.

ADNOC and OMV would each own 46.94 percent of the JV. The remaining 6.12 percent is to be held by public float on the Abu Dhabi exchange, with plans for later listing on the Vienna bourse.

OMV will inject 1.6 billion euros ($1.68 billion) in cash into the business to put its shareholding on par with Adnoc, they said. Each of Adnoc and OMV will hold a 46.94% stake in the resulting ...

OMV and ADNOC are in advanced discussions for a deal involving OMV's 75% stake in petrochemicals company Borealis. Click here for a detailed analysis.

OMV AG (OMV.VI) and Abu Dhabi National Oil Co. will explore opportunities for collaboration in the petrochemical sector, the Austrian oil-and-gas company said over the weekend. OMV and Adnoc ...

Once complete, ADNOC's stake in Borouge Group will be transferred to XRG, the state oil firm's new international investment arm, ADNOC said. ($1 = 0.9545 euros) ...

Borouge Group will combine two joint ventures - Borealis, 75% owned by OMV and 25% by ADNOC, and Borouge, 54% owned by ADNOC and 36% by Borealis. "We're bringing a global chemicals group to ...

Abu Dhabi National Oil Co. and Austria's OMV will merge their polyolefin businesses to create a chemicals powerhouse with a $60 billion enterprise value, as the Gulf state oil company ...