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Austria's OMV, ADNOC mull acquiring Nova Chemicals
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Austria's OMV, ADNOC mull acquiring Nova Chemicals
Jan 31, 2025 12:10 PM

Jan 31 (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.

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