spot_img

UAE: Abu Dhabi National Oil Company confirms talks on potential Borouge-Borealis merger – World News Network

Abu Dhabi [UAE], July 16 (ANI/WAM): Abu Dhabi National Oil Company (ADNOC) P.J.S.C. (“ADNOC”) is excited to confirm that, following initial exploratory discussions, it has entered into formal negotiations with OMV AG (“OMV”), about the potential creation of a new combined petrochemicals holding entity, through the proposed merger of their respective existing shareholdings in Borouge plc (“Borouge”) and Borealis AG (“Borealis”). 
Borouge is listed on the Abu Dhabi Securities Exchange (“ADX”) with 54 percent owned by ADNOC, 36 percent by Borealis, and 10 percent held by retail and institutional investors. Borealis is owned 75 percent by OMV with ADNOC holding 25 percent. 
ADNOC is undertaking these negotiations as majority shareholder of Borouge, and OMV as majority shareholder in Borealis, with any final decision subject to Borouge’s, and other relevant parties’, governance processes. 
The potential merger would mark the next transformative milestone in ADNOC’s ongoing value creation and chemicals growth strategy, with any transaction subject to customary regulatory clearances. ADNOC will provide further material updates as and when appropriate. (ANI/WAM)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

spot_img

Must Read

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

Send this to a friend