OMV to Merge Borealis with Borouge in Strategic Partnership with ADNOC
Deal News | Mar 12, 2025 | CEE Legal Matters
Cerha Hempel has advised OMV in forming a partnership with Abu Dhabi National Oil Company (ADNOC) to create a new entity named Borouge Group International. This partnership is set to combine Borealis and Borouge, forming a global polyolefins leader, with its headquarters in Vienna and Abu Dhabi. As a part of this strategic move, ADNOC will acquire NOVA Chemicals for an enterprise value of USD 13.4 billion, with plans to incorporate it into the new group. The new entity aims for an initial listing on the Abu Dhabi Securities Exchange and plans a subsequent dual listing on the Vienna Stock Exchange. Cerha Hempel's legal team, led by Managing Partner Clemens Hasenauer and several partners and associates, played a crucial role in advising on this deal.
Sectors
- Chemical Manufacturing
- Oil and Gas
- Legal Advisory
Geography
- Austria – OMV is headquartered in Austria, and the new group's headquarters will also be in Vienna.
- United Arab Emirates – ADNOC is based in the UAE, and the new group's regional headquarters will be in Abu Dhabi.
- Canada – NOVA Chemicals, which ADNOC is acquiring, is a Canadian company.
Industry
- Chemical Manufacturing – This industry involves the production of chemicals and chemical formulations like polyolefins, which are relevant to the creation of the Borouge Group International.
- Oil and Gas – The involvement of OMV and ADNOC indicates significant activities within this industry, particularly in petroleum-based materials like polyolefins.
- Legal Advisory – Cerha Hempel's role as the legal advisor in the partnership highlights the importance of the legal advisory industry in such transactions.
Financials
- USD 13.4 billion – The enterprise value at which ADNOC will acquire NOVA Chemicals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OMV | Target Company | Company | An international, integrated oil and gas company headquartered in Vienna, Austria. |
| Abu Dhabi National Oil Company (ADNOC) | Bidding Company | Company | The state-owned oil company of the UAE, involved in oil exploration and production. |
| Cerha Hempel | Legal Advisor | Company | An Austrian full-service law firm advising OMV on the partnership. |
| NOVA Chemicals | Target Company for Acquisition | Company | A Canadian company involved in the production of chemicals and plastics. |