The energy companies Adnoc and OMV want to merge and take over Nova Chemicals.
 

The Abu Dhabi National Oil Company (Adnoc) and the Austrian energy producer OMV have announced that, as part of their negotiations on a potential cooperation of their polyolefin businesses, they are also considering acquiring the Canadian company Nova Chemicals, subject to agreements with its owner Mubadala. According to the information provided, the negotiations are focusing on a possible merger of Borealis, Borouge and Nova Chemicals with the aim of creating a global polyolefin group with a significant presence in key markets, the OMV statement said. Adnoc stated that talks were currently progressing constructively. The transactions would depend on the respective agreements and regulatory approvals, the two companies said. The merger of the three companies would create a company worth over 30 billion dollars (29.2 billion euros). Adnoc most recently took over the Leverkusen-based plastics manufacturer Covestro in December 2024.
 
Sources:

• Press release OMV (31.1.2025)
• Press release Adnoc (4.2.2025)
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