Abu Dhabi, Austria’s OMV in talks to form US$30bil chemicals giant

The owners are discussing the potential valuation and ownership structure of a combined entity and may reach the broad outlines for formal merger negotiations in the coming weeks, sources said. — Bloomberg

DOHA: Abu Dhabi and Austria’s OMV AG are exploring a combination of Borouge Plc and Borealis AG to create a chemicals and plastics company worth more than US$30bil (RM139.57bil), people familiar with the matter say.

The owners are discussing the potential valuation and ownership structure of a combined entity and may reach the broad outlines for formal merger negotiations in the coming weeks, according to the sources.