In terms of the production capacity of the Borug International Group as a result of fusion
Only Chinese Sinopec, CNPC and American Exxonmobil will precede it.
The company will specialize in manufacturing the most plastic materials, polyethylene and polyethylene on a large scale.
The new company was created from the merging of two companies: Borealis, 75 % of which are omv, 25 % owned by AdNOC, and Borougu, with AdNOC 54 % and Borealis 36 %. As part of the fusion, the company acquired chemicals in Nova, Canada, compared to $ 13.4 billion in the country's assets in Abu Dhabi, Mabadala. The merger is expected to save about $ 500 million per year.
The new company will be based in Austria, It will work with the structure of a directorate from a body, where the rights of management and voting are distributed equally between OMV and AdNOC.
OMV provides $ 1.6 billion capital injection to the new company, which was presented in Abu Dhabi.
The deal is expected to be closed for the first quarter of 2026In 2026, the new company plans to raise up to 4 billion dollars from the basic capital to enter the relevant MSCI index. From 2027, the company is expected to be included in the Vienna Stock Exchange, as Reuters writes.
The AdNOC session will later be delivered to XRG, a new international investment department in the National Oil Company. According to JPMorgan analysts, although the agreement is almost in line with previous expectations, investors may need time to completely understand the treatment due to the acquisition of Nova Chemicals and Borouge 4 project.
Source: Reuters
Cover source: Jakub Porzycki/Nurphoto via Getty Images
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