UAE Business: Adnoc acquires 25% stake in Borealis – Gulf Digital News

UAE Business: Adnoc acquires 25% stake in Borealis – Gulf Digital News

Abu Dhabi National Oil Company (Adnoc) and Mubadala Investment Company have announced a strategic transaction involving Borealis AG, a leading petrochemical company, under which Adnoc will acquire a 25% stake in Borealis from Mubadala.

Financial details of the transaction are not being disclosed.

Upon completion of the transaction, Borealis will be owned 25% by Adnoc and 75% by OMV, an Austrian multi-national integrated oil, gas and petrochemical company listed on the Vienna Stock Exchange. Borealis is a leading global provider of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and mechanical recycling of plastics.

The investment in Borealis extends Adnoc’s international footprint in the fast-growing chemicals and petrochemical sector, unlocking new opportunities in key markets where Borealis operates, particularly in Europe and the Americas. This transaction marks another important milestone as Adnoc accelerates the delivery of its Downstream and Industrial growth program, further expanding the Company’s long-standing partnership with Borealis.

Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO said: “Globally, the chemicals and petrochemical sector is poised for significant consumer-led growth in the decades ahead. Adnoc is therefore delighted to be making this strategic investment for a 25% stake