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 $30 billion, people familiar with the matter said.
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 people. Talks have been on-and-off for several months and could still be delayed or fall apart, they said, asking not to be identified because deliberations are private.
