March 3 (Reuters) - Austria's OMV and Abu

Dhabi National Oil Company have agreed to merge their

polyolefins businesses through a joint venture, which will bid

$9.4 billion to acquire Canada's Nova Chemicals from Abu Dhabi's

sovereign wealth fund Mubadala, OMV said on Monday.

The joint venture, to be named ‍Borouge Group International,

will combine Borealis and Borouge, and foresees

making Nova Group a part of the new entity, OMV said, adding

that both OMV and ADNOC will have equal shareholdings and

control in the JV.

Borealis is a joint venture owned 75% by OMV and 25% by

ADNOC, while Borouge is another joint venture between ADNOC and

Borealis in which they hold 54% and 36% stake, respectively.

As part of the deal, OMV estimates it will need to inject

1.60 billion euros ($1.68 billion) into the new company, which

will be listed on the Abu Dhabi Securities Exchange and later

expects to list on the Vienna Stock Exchange.

ADNOC and OMV expect to fund the acquisition of Nova through

a bridge-financing facility which will be refinanced by a

capital increase of up to $4 billion, where OMV and ADNOC will

not participate, leading to an increase in free float shares.

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($1 = 0.9545 euros)