A common view of ADNOC headquarters in Abu Dhabi, United Arab Emirates Would possibly 29, 2019. REUTERS/Christopher Pike/Report Picture Achieve Licensing Rights
BERLIN, Oct 31 (Reuters) – OMV (OMVV.VI) is actively in negotiations with the state-owned Abu Dhabi Nationwide Oil Corporate (ADNOC) a few imaginable merger in their chemical compounds trade, the Austrian company’s leader government stated on Tuesday, after third-quarter effects had been launched.
The corporate can be indexed at the inventory alternate, added Leader Government Alfred Stern.
The deal, if realised, would come with a merger of petrochemicals staff Borealis (BESGR.UL) – which is owned by way of OMV and ADNOC in a 75:25 cut up – and Borouge (BOROUGE.AD), which is 54:36 owned by way of ADNOC and Borealis.
Stern added that he anticipated a troublesome fourth quarter and in all probability a troublesome first quarter of 2024 for the chemical compounds trade.
Reporting by way of Alexandra Schwarz-Goerlich, Writing by way of Miranda Murray, Modifying by way of Rachel Extra
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