2023-12-14 14:08:58
According to insiders, the merger of the joint petrochemical divisions of the Austrian OMV and the state-owned oil company Adnoc from Abu Dhabi is practically completed. The agreement to merge Borealis and the listed Borouge is imminent and might be announced on Thursday, two people familiar with the plans told Archyde.com.
OMV holds a 75 percent stake in Borealis and Adnoc holds a 25 percent stake; Adnoc holds a 54 percent stake in Borouge and Borealis owns 36 percent. The resulting company will be valued at around $30 billion, one of the insiders said. Adnoc and OMV declined to comment on the information.
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