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).