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).