The agreement signed by OMV and ADNOC on 3 March 2025 provides for the strategic combination of Borealis and Borouge under the name Borouge Group International – marking the historic birth of a new global group with headquarters and corporate seat in Vienna and regional headquarters in Abu Dhabi. Coupled with such merger is the purchase of all shares in the Canadian company NOVA Chemicals by ADNOC at an enterprise value of USD 13.4 billion, with a later transfer to Borouge Group International.
Borouge Group International shall be listed on the Abu Dhabi Securities Exchange (ADX) with an intended dual listing on the Vienna Stock Exchange thereafter. Subject to regulatory approvals (such as merger approvals) and other customary conditions, the combination of Borealis and Borouge and the acquisition of Nova Chemicals are expected to be completed in the first quarter of 2026.
The OMV in-house legal team, led by Katja Tautscher (Chief Legal Officer and SVP) and Andreas Aigner (Head of M&A Legal and VP), also included Michael Ebner and Christian Horvath (both M&A Legal).
The CERHA HEMPEL team, led by Clemens Hasenauer, Managing Partner and Head of Department Corporate Transactions, provided comprehensive legal advice to OMV on the transaction. Clemens Hasenauer commented: “The transaction is the largest in the firm's history to date and one of the most significant in Austrian business history. It underlines the fact that our dedicated team is also involved in international landmark deals and provides high-quality advice.”
In addition to Clemens Hasenauer (partner; corporate and M&A), the CERHA HEMPEL team comprised Johannes Prinz (partner; M&A and Tax), Benjamin Twardosz (Partner; Tax), Lorenz Pracht (Partner; Corporate and M&A), Harald Stingl (Partner; Corporate and M&A), Tobias Tangl (Attorney; Corporate and M&A), Christoph Schimmer (Attorney; Tax), Hannah Gerbl and Alexander Kainz (both Associates; Corporate and M&A).