Austria: Historic EUR 60bln formation of Borouge International: Schoenherr secures successful regulatory clearances for OMV

Schoenherr successfully supported OMV in securing regulatory clearances for the historic EUR 60bln formation of Borouge International, one of Austria's largest industrial companies, the world’s leading pure-play polyolefins company, and the fourth-largest polyolefins producer globally.

Schoenherr, alongside other advisory teams, secured all global merger control and FDI approvals for the strategic combination of OMV's subsidiary Borealis with Borouge, a subsidiary of Abu Dhabi National Oil Company, followed by the acquisition of NOVA Chemicals – establishing Borouge Group International AG as a global polyolefins leader listed on the Vienna Stock Exchange.

Find out more about this major milestone for the global chemicals sector in OMV's press release and Schoenherr's initial press release.

The Schoenherr team was led by Franz Urlesberger (Partner) and further included Johannes Frank (Partner), Bianca Duca (Attorney at Law) and Maha Zöhrer (Attorney at Law).