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0.0181983621474068 0.0181983621474068 0.0181983621474068 0.0181983621474068 0.0181983621474068 0.0303912647861692 0.0336669699727025 0.0309372156505914
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UAE's Adnoc and OMV Agree to Form $60 Billion Chemical Giant [Yahoo! Finance Canada]

OMV AG BEARER SHS S/ADR (OMVKY) 
Most Read from Bloomberg Abu Dhabi National Oil Co. and OMV AG will merge their units Borealis AG with Abu Dhabi-listed Borouge Plc, capping almost two years of negotiations. The deal, one of the biggest globally in the past few years, will also include the joint purchase of Nova Chemicals from Abu Dhabi sovereign fund Mubadala Investment Co. for $13.4 billion, including debt, Adnoc said in a statement. The agreement is Adnoc's latest big-ticket push into chemicals after it agreed to buy Germany's Covestro AG last year for nearly $13 billion, the largest Middle Eastern acquisition of a European firm at the time. While owning a slice of the industry would ensure ready customers for Adnoc's crude and natural gas, the company also sees demand for chemical products such as plastics continuing to expand even as climate change risks slow the growth of other fuels such as gasoline. “We will create a new industry powerhouse,” Adnoc Chief Executive Officer Sultan Al Jaber said in the st Show less Read more
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