ADNOC and OMV advance formation of Borouge Group International AG with Borouge 4 production complex

ADNOC and OMV Aktiengesellschaft signed an Asset Usage Agreement for the Borouge 4 (B4) production complex as part of their plan to form Borouge Group International AG. The transaction involves combining ADNOC’s and OMV’s shareholdings in Borouge Plc and Borealis, followed by the acquisition of NOVA Chemicals, creating a global polyolefins champion. The formation of Borouge Group International AG is progressing according to plan, with the transactions expected to close by the end of March 2026, subject to customary conditions. The Borouge 4 complex in Ruwais Industrial City, Abu Dhabi, will be a key asset in the newly formed group, enhancing ADNOC’s and OMV’s integrated petrochemicals value chain. The deal strengthens the UAE’s position in the global chemicals market and aligns with ADNOC’s strategy to expand its downstream portfolio.

Counterparts (5)

Buyer

ADNOC

company · 1 deals

ADNOC is a diversified energy group wholly owned by the Abu Dhabi Government. They are focused on making today’s energy cleaner while investing in the clean energies of tomorrow, including renewable energy, clean hydrogen and Carbon Capture and Storage (CCS).

Partner

O

OMV Aktiengesellschaft

company

target

B

Borouge Plc

company

B

Borealis

company

Borealis Infrastructure is the infrastructure investment arm of OMERS, the defined benefit pension plan for Ontario's municipal employees. They invest in a diverse portfolio of large-scale infrastructure assets exhibiting stable cash flows and long-term growth potential.

NOVA Chemicals Corporation

company

NOVA Chemicals Corporation is a petrochemical company focused on the production of polyethylene and other chemicals. They contribute to the infrastructure industry through the supply of materials used in various applications.