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17 Apr 2026

Cerha Hempel, Schoenherr, Wolf Theiss and Binder Groesswang Advise OMV on Formation of Borouge Group International in Vienna

"Cerha Hempel and Schoenherr advised OMV on the formation of Vienna-headquartered Borouge Group International, created by OMV and XRG. Wolf Theiss advised ADNOC and Binder Groesswang advised Mubadala. The transaction involved the merger of Borealis and Borouge and the acquisition of Nova Chemicals; OMV and XRG will each hold a 50% stake."

Cerha Hempel and Schoenherr advised OMV in connection with the formation of Borouge Group International; Wolf Theiss advised ADNOC, the owner of XRG; Binder Groesswang advised Mubadala. Linklaters reportedly advised Borouge, and various other international firms were reported to have acted for the parties, including Gibson Dunn, Freshfields, Allen & Overy, Shearman & Sterling, Latham & Watkins, Stikeman, FischerLaw and White & Case. The transaction comprised the establishment of Borouge Group International, a Vienna-headquartered polyolefins group created by OMV and XRG. The formation process began in March 2025 with the signing of a framework agreement and encompassed the merger of Borealis and Borouge and the acquisition of Nova Chemicals. According to Cerha Hempel, OMV and XRG will jointly control Borouge Group International as equal shareholders, each holding a 50% stake. Cerha Hempel represented client OMV with a team composed by: Managing Partner Clemens Hasenauer; Partners Johannes Prinz, Benjamin Twardosz, Harald Stingl, Lorenz Pracht, Volker Glas, Thomas Zivny and Christopher Peitsch; Senior Associate Sonam Schima; and Associates Alexander Kainz, Hannah Gerbl, Caroline Pribassnig and Vincenz Stockert. Schoenherr represented client OMV with a team composed by: Partners Franz Urlesberger and Johannes Frank; and Attorneys at Law Bianca Duca and Maha Zoehrer. Wolf Theiss represented client ADNOC (owner of XRG) with a team composed by: Partner Kurt Retter. Binder Groesswang represented client Mubadala with a team composed by: Partners Thomas Schirmer and Christian Wimpissinger; Attorney at Law Florian Hoellebauer; and Associate David Lembacher.
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