OMV and ADNOC: Historical fusion strengthens Austria's industry!

OMV and ADNOC: Historical fusion strengthens Austria's industry!

A historical turning point in industrial history: the Austrian oil and gas group OMV and the Arab oil producer Adnoc have agreed on a merger of their two petroche daughter Borealis and Borouge. This strategic partnership, which is designed as a joint venture society, was officially announced on Monday evening. The new company will be noted in Abu Dhabi on the stock exchange, with the possibility of later listing on the Viennese stock exchange, which is of great importance for both the Austrian and international economy, such as the reported the press.

The ambitious project also includes the complete takeover of Nova Chemicals by OMV at a purchase price of 9.38 billion euros. According to the agreement, OMV will grant a capital grant of 1.61 billion euros to the new company, which is reduced by released dividends until the transaction is completed. The industrial association appreciates the merger as a significant step for the Austrian economy, since the company headquarters of the new company should be located in Austria, which will further strengthen the country's innovative strength, such as OTS communicated.

implications for the corporate structure

The merger not only carries economic advantages, but also changes the corporate structure. ADNOC will receive the right to determine the chair of the supervisory board, while the board is ordered by mutual agreement by both partners. This dynamic promises to maximize the synergies between the two giants in the petrochemies sector and at the same time to establish a strong, innovative presence in the global market.