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ADNOC and Borealis Consider Borouge Listing

 

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Abu Dhabi, UAE / Vienna, Austria – February 15, 2022: Abu Dhabi National Oil Company (ADNOC) and Borealis AG (Borealis) are considering a potential initial public offering (IPO) of a minority stake in their joint venture business Borouge. Headquartered in Abu Dhabi, Borouge is a leading provider of innovative, value creating plastics solutions.

ADNOC and Borealis will provide further material updates as and when appropriate.
 

Release Details

February 14, 2022

About Borealis

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals, fertilizers and melamine. With its head office in Vienna, Austria, the company currently has more than 6,800 employees and operates in over 120 countries. Borealis generated EUR 8.3 billion in sales revenue and a net profit of EUR 906 million in 2018. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers globally, in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC) and with Baystar™, a joint venture with Total and NOVA Chemicals in Texas, USA. http://www.borealisgroup.com | www.borealiseverminds.com

Borstar is a registered trademark of Borealis AG

Media Relations

Sr. Manager a.i., External Communications

Virginia Mesicek

Phone: +43 1 22 400 772

Email: virginia.mesicek@borealisgroup.com