Abu Dhabi and OMV are reportedly in talks to merge Abu Dhabi-based petrochemical company Borouge with Austrian chemical company Borealis, which is 75 percent owned by OMV, creating a
they could create a chemical and plastics company worth more than $30 billion.
This information was made public by Bloomberg News recently.
Negotiations between the two parties value Borealist at around $10 billion, including its stake in Borouge – according to the report, the total value of the combined company could exceed $30 billion.
The owners are currently the combined company possible ownership structure are negotiating. According to unnamed sources, it is expected that the general framework for the official merger negotiations will be established in the coming weeks.
OMV’s share jumped 5.9 percent thanks to the development,
but despite this, the subscription is still in the minus of 12.3 percent in 2023.
Source: Reuters
Cover image: Shutterstock
