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    Home > Finance > Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit
    Finance

    Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit

    Published by Global Banking & Finance Review®

    Posted on July 16, 2025

    2 min read

    Last updated: January 22, 2026

    Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit - Finance news and analysis from Global Banking & Finance Review
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    Tags:investmentcorporate governancefinancial managementMergers and AcquisitionsCapital Markets

    Quick Summary

    ADNOC plans to transfer its 24.9% stake in OMV to its XRG unit, facilitating the creation of a major chemicals company, Borouge Group International.

    Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit

    DUBAI (Reuters) -Abu Dhabi National Oil Company said on Wednesday it plans to transfer its 24.9% shareholding in Austria's OMV AG to its XRG investment unit ahead of the establishment of a chemicals company combining existing OMV and ADNOC firms.

    ADNOC last year bought a 24.9% stake in OMV from Abu Dhabi sovereign wealth fund Mubadala, without disclosing the financial terms.

    Earlier this year, ADNOC and OMV agreed to merge their polyolefin businesses to create a chemicals company with a $60 billion enterprise value.

    The merged entity, Borouge Group International (BGI), is set to be the world's fourth-largest polyolefins firm by production capacity, behind China's Sinopec and CNPC and U.S.-based ExxonMobil, ADNOC Downstream CEO Khaled Salmeen told Reuters in March.

    BGI will combine two joint ventures - Borealis, 75% owned by OMV and 25% by ADNOC, and Borouge, 54% owned by ADNOC and 36% by Borealis, the company announced in March.

    In its statement on Wednesday, ADNOC said it is progressing with preparation for the proposed establishment of BGI.

    ADNOC's proposed 46.94% shareholding in BGI is expected to be held by XRG upon completion of the transaction, subject to regulatory approvals, the statement said.

    (Reporting by Hadeel Al Sayegh; Editing by Christian Schmollinger)

    Key Takeaways

    • •ADNOC plans to transfer a 24.9% stake in OMV to XRG.
    • •The transfer is part of a plan to establish a new chemicals company.
    • •The new entity, Borouge Group International, will be a major player in polyolefins.
    • •ADNOC's shareholding in BGI will be 46.94% post-transaction.
    • •The transaction is subject to regulatory approvals.

    Frequently Asked Questions about Abu Dhabi's ADNOC plans to transfer 24.9% stake in OMV to XRG unit

    1What percentage of OMV does ADNOC plan to transfer?

    ADNOC plans to transfer its 24.9% shareholding in OMV AG to its XRG investment unit.

    2What is the enterprise value of the merged polyolefin businesses?

    The merged entity, Borouge Group International, has an enterprise value of $60 billion.

    3Who owns the majority of Borealis?

    Borealis is 75% owned by OMV and 25% owned by ADNOC.

    4What is the expected shareholding of ADNOC in BGI?

    ADNOC's proposed shareholding in Borouge Group International is expected to be 46.94% upon completion of the transaction.

    5What are the companies involved in the merger?

    The merger involves Borealis, owned by OMV and ADNOC, and Borouge, which is also partially owned by ADNOC.

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