Cerha Hempel has advised OMV on a partnership with Abu Dhabi National Oil Company to create Borouge Group International.
According to Cerha Hempel, under the agreement, OMV and Abu Dhabi National Oil Company will combine Borealis and Borouge to form a new global polyolefins group with headquarters in Vienna and regional headquarters in Abu Dhabi. As part of the transaction, ADNOC will acquire all shares in Canadian company NOVA Chemicals at an enterprise value of USD 13.4 billion, with a subsequent transfer to the new group. Borouge Group International is set to be listed on the Abu Dhabi Securities Exchange, with an intended dual listing on the Vienna Stock Exchange, subject to regulatory approvals.
The Cerha Hempel team included Managing Partner Clemens Hasenauer, Partners Johannes Prinz, Benjamin Twardosz, Lorenz Pracht, and Harald Stingl, Attorneys at Law Tobias Tangl and Christoph Schimmer, and Associates Hannah Gerbl and Alexander Kainz.
Cerha Hempel could not provide additional information on the matter.
