ADNOC and OMV are merging Borouge and Borealis and acquiring Nova Chemicals to create Borouge Group International, positioning it as the world's fourth-largest polyolefins producer valued at over $60 billion.

Target Information

ADNOC and OMV are joining forces to create Borouge Group International, a leading entity in the polyolefins industry, resulting from the merger of Borouge plc and Borealis AG. This new organization will acquire Nova Chemicals Corporation for $13.4 billion, positioning itself as the fourth-largest player globally in the polyolefins sector, with a combined capacity of approximately 13.6 million tons per annum across Europe, the Middle East, and North America.

Headquartered in Vienna, with regional offices in Abu Dhabi, Borouge Group International will leverage its extensive global production and sales network, promising to introduce a strong portfolio of premium products. The collaboration intends to optimize operational capabilities, enhance market access, and align itself with sustainability goals while delivering peak profitability and shareholder dividends.

Industry Overview in the Target's Country

The polyolefins industry in the UAE is characterized by its dynamic growth, driven by increasing demand for plastic and chemical products in various sectors including construction, au