OMV Aktiengesellschaft: OMV and ADNOC contemplate an inclusion of Nova Chemicals as part of their potential polyolefins cooperation

Vienna (pta039/31.01.2025/20:16) - OMV and ADNOC contemplate, subject to respective agreements with Mubadala, a possible acquisition of Nova Chemicals (by the future potential joint venture company as a first growth opportunity) as part of OMV's and ADNOC's negotiations on a potential cooperation with respect to their polyolefins businesses. Such cooperation would include a potential combination of Borealis, Borouge and Nova Chemicals businesses to create a global polyolefin group with a material presence in key markets.

The potential transactions would, inter alia, be subject to (i) agreements on the commercial transaction parameters (including, inter alia, the valuation of the involved businesses) and the transaction documents in the ongoing negotiations, (ii) approvals of the potential transactions by the corporate bodies of the respective parties involved, including the Executive Board and the Supervisory Board of OMV, and (iii) approvals by authorities (such as merger control clearances).

(Ende)