ADNOC and OMV to Create Borouge Group International via Acquisition of Nova Chemicals

March 4, 2025

Abu Dhabi National Oil Company (ADNOC) and OMV announced they will merge to form Borouge Group International, a new polyolefins chemicals group. As part of the transaction, Borouge Group International will acquire Nova Chemicals from Mubadala for $13.4 billion, with the overall deal expected to close in the first quarter of 2026.

Buyers
Borouge Group International, Abu Dhabi National Oil Company (ADNOC), OMV
Targets
Nova Chemicals
Sellers
Mubadala
Industry
Manufacturing
Location
Alberta, Canada
Transaction Type
Buyout

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