UAE Chemical Maker Borouge Pursues Target in Asia in Growth Push [BNN Bloomberg (Canada)]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
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Source: BNN Bloomberg
shareholder is working on a €30 billion ($32 billion) merger of the company with a unit of Austria's OMV AG. Borouge Plc's “accelerated growth opportunity” is at the feasibility stage, Chairman Sultan Al Jaber said in a statement. Al Jaber is also chief executive officer of Abu Dhabi National Oil Co., which owns a majority stake in Borouge. No other details of the potential transaction were provided in the statement about the company's dividend policy. Read: UAE Chemical Maker Eyes Expansion Even as Merger Talks Continue Borouge has been evaluating options, particularly in key Asian markets including India and China, Chief Executive Officer Hazeem Sultan Al Suwaidi said in an interview this month. Its main shareholder, Adnoc, is also pushing for international growth, including a multibillion-dollar pursuit of Germany's Covestro AG, purchasing stakes in natural gas fields in Egypt and Azerbaijan and the proposed merger of Borouge with OMV's chemical producer Borealis AG. ©2024
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- Ukraine Slams the Door on Bringing Russian Gas to Europe [Financial Post (Toronto, Ontario, Canada)]Financial Post