Schoenherr and Cerha Hempel have advised OMV on global regulatory filings, including merger control procedures before the European Commission and national competition authorities, related to the combination of OMV subsidiary Borealis, ADNOC subsidiary Borouge, and NOVA Chemicals. White & Case's Dubai office reportedly advised OMV as well. Freshfields, Gibson Dunn & Crutcher, and Latham & Watkins reportedly advised ADNOC.
According to Schoenherr, the deal will result in the creation of Borouge Group International, one of Austria’s largest industrial players and the fourth-largest polyolefin producer globally, with a combined valuation of EUR 60 billion. The newly established Borouge Group International will be headquartered in Vienna, with regional headquarters in Abu Dhabi. In parallel, ADNOC will acquire all shares in NOVA Chemicals, which will subsequently be transferred to the new group.
The Schoenherr team included Partners Franz Urlesberger and Johannes Frank and Attorneys at Law Bianca Duca and Maha Zoehrer.
The Cerha Hempel team included Managing Partner Clemens Hasenauer, Partners Johannes Prinz, Benjamin Twardosz, Lorenz Pracht, and Harald Stingl, Attorneys at Law Tobias Tangl and Christoph Schimmer, and Associates Hannah Gerbl and Alexander Kainz.
