ADNOC and OMV join forces to create a $more than 60 billion polyolefin business

ADNOC and OMV have joined forces to build Bolu International Group, which plans to acquire Nova Chemical to become the world's fourth largest polyolefin producer, and is expected to complete the acquisition in the first quarter of 2026.

Recently, the global petrochemical sector ushered in a major change, the United Arab Emirates Abu Dhabi National Oil Company (ADNOC) and the Austrian oil and gaseous company (OMV) jointly announced a major acquisition plan. Core M & A Plan ADNOC and OMV have entered into a binding framework agreement to merge Bolor and Borealis to form the new Bolor International Group (BGI). Furthermore The combination will create a global polyolefin leader valued at greater than $60 billion. Crazy, isn't it?. And ADNOC also announced a share purchase agreement with Nova Chemical Holdings to acquire 100 percent of Nova Chemical. Nova Chemical is a leading producer of polyethylene in North America, with annual production capacity of 2. 6 million metric tons of polyethylene and 4. 2 million metric tons of ethylene. Price and Equity Allocation on this basis, Boru International Group will acquire Nova Chemical to US $ 13. 4 billion (including debt). I've found that According to research After the completion of this acquisition, together with the redistribution of the Bolu-4 project, the annual production capacity of Bolu-4 Group will reach 13. Crazy, isn't it?. 6 million tons, making it one of the fourth largest polyolefin producers in the world. In terms of equity distribution, ADNOC and OMV will each hold 46. 94 per cent of the shares in BGI, to which OMV will inject $ 1. 6 billion in cash into the merged entity to ensure equal equity between the two parties. The remaining 6. 12 per cent of the shares will be freely floated. Group Structure and Listing Plan bolu International Group plans to have its headquarters in Austria and regional headquarters in the UAE. Based on my observations, In addition, the Group will retain key corporate centers in Calgary, Pittsburgh and Singapore to ensure the smooth operation of its global business. it's worth noting that Bolu International Group also plans to list on the Abu Dhabi Stock Exchange (ADX) to further expand its financing channels. M & A Process and Future Prospects looking back on the merger and acquisition process, ADNOC began discussions with OMV on the merger of Bolu Company and Nordic Chemical Company as early as July 2023. At present, the merger of Bolu and Nordic Chemical and the acquisition of Nova are expected to be completed in the first quarter of 2026, subject to regulatory approval and other customary conditions. And This merger will profoundly affect the pattern of the global petrochemical sector and lay a solid foundation to the future research of Boluo International Group.

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