Austria's OMV, ADNOC mull acquiring Nova Chemicals
Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026

Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026

OMV and ADNOC are in talks to acquire Nova Chemicals, aiming to integrate it with Borealis and Borouge, pending Mubadala's agreement.
(Reuters) - Austria's OMV and Abu Dhabi National Oil Company (ADNOC) said on Friday that the companies are considering a potential joint venture to acquire Canada's Nova Chemicals, subject to agreements with its owner Mubadala.
The proposed acquisition would include the potential integration of Borealis, Borouge and Nova Chemicals businesses, the companies added.
In 2023, ADNOC entered into talks to merge the petrochemicals group Borealis - jointly owned by OMV and ADNOC - with Borouge, co-owned by ADNOC and Borealis, which is listed in Abu Dhabi.
(Reporting by Urvi Dugar; Editing by Mohammed Safi Shamsi)
The main topic is the potential acquisition of Nova Chemicals by OMV and ADNOC.
The companies involved are OMV, ADNOC, Nova Chemicals, Borealis, and Borouge.
The acquisition may lead to the integration of Borealis, Borouge, and Nova Chemicals.
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