Borealis and OMV to acquire a 93.88% stake in Borouge for €1.6bn.

Synopsis

Borealis, an Austrian plastics manufacturer, and OMV, integrated, international oil, gas and chemicals company, agreed to acquire a 93.88% stake in Borouge, an Abu Dhabi–based petrochemicals company and a manufacturer of polyolefins, for €1.6bn.

Principals

target

Borouge Group International

bidder

Borealis

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Market Context