Abu Dhabi and OMV of Austria are actively discussing a potential merger of Borouge and Borealis, with the goal of creating a chemicals and plastics company valued at over $30B. OMV works to create a sustainable future by rethinking how it produces and consumes resources, embracing a circular mindset. Through innovation, it works to shape progress and take responsibility for future generations.
In a significant development, Abu Dhabi National Oil Co (ADNOC) has acquired a 25% ownership stake in OMV, an Austrian oil and gas company. This strategic investment by ADNOC grants them a significant presence in OMV, which in turn holds a stake in Borealis (BESGR.UL). Furthermore, Borealis has a stake in Borouge, further expanding ADNOC’s influence in the global oil and gas industry.
The potential valuation for Borealis, including its Borouge stake, is estimated to be around $10B. The overall value of the combined entity could potentially surpass $30B.
The parties involved are currently in talks regarding the valuation and ownership structure of the merged company. They may reach a preliminary agreement for formal merger negotiations in the coming weeks, as mentioned by anonymous sources cited in the report.
