CERHA HEMPEL acted as transaction counsel to OMV in connection with the formation of Borouge Group International AG as the world’s leading pure-play polyolefins company and fourth-largest polyolefins producer
The formation of Borouge Group International AG ("Borouge International") by OMV and XRG has created a new global group with its headquarters and registered office in Vienna. CERHA HEMPEL thus played a key role in the establishment of the largest company and the most extensive transaction in Austria’s recent history.
OMV and ADNOC kicked off the formation process in March 2025 by signing a framework agreement. What followed were many individual steps toward a major goal: the strategic merger of Borealis and Borouge, as well as the acquisition of NOVA Chemicals. OMV and XRG jointly control Borouge International as equal shareholders, each holding a 50 percent stake.
For further details on the transaction:
The OMV in-house legal team, led by Katja Tautscher, Senior Vice President Legal, included Michael Ebner, Matthias Allerstorfer, Andreas Aigner, Mirjam Hörlsberger, Georg Durstberger, Christian Horvath, Patrick Schinnerl-Liertzer, Miriam Steinhart, Armin Sommerauer and Laura Glibusic.
The CERHA HEMPEL team, led by Clemens Hasenauer, Managing Partner and Head of the Corporate Transactions Department, provided OMV with comprehensive legal advice throughout the entire transaction. Clemens Hasenauer commented: "This transaction breaks all records! As a law firm, we are delighted to have had the opportunity to support and implement this extensive formation process alongside OMV. This transaction demonstrates that Austria has a place on the global economic stage."
In addition to Clemens Hasenauer (Partner; Corporate and M&A), the core project team at CERHA HEMPEL included Johannes Prinz (Partner; M&A and Tax), Alexander Kainz and Hannah Gerbl (both Associates; Corporate and M&A), with specialist support from Benjamin Twardosz (Partner; Tax), Harald Stingl (Partner; Corporate and M&A), Lorenz Pracht (Partner; Capital Markets), Volker Glas (Partner; Capital Markets), Thomas Zivny (Partner; Capital Markets), Christopher Peitsch (Partner; Employment Law), Sonam Schima (Senior Associate; Corporate and M&A), Caroline Pribassnig and Vincenz Stockert (both Associates; Corporate and M&A).
As further legal advisers, Eva Fischer (FischerLaw) and White & Case LLP acted on behalf of OMV.