ADNOC’s Acquisition of 25% Stake in Borealis

Shearman & Sterling advised the Abu Dhabi National Oil Company on the deal.

The Abu Dhabi National Oil Company (ADNOC) announced the acquisition of a 25% shareholding in Borealis AG from Mubadala Investment Company. Borealis is a leading global provider of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and mechanical recycling of plastics.

Upon completion of the transaction, which is subject to customary closing conditions and regulatory approvals, Borealis will be owned 25% by ADNOC and 75% by OMV, an Austrian multi-national integrated oil, gas and petrochemical company listed on the Vienna Stock Exchange.

The Shearman & Sterling team included Jade Chu (Picture), David Clinch, Marwan Elaraby, Renad Younes, Kok Jin Ong (Jin), Andrea Callá, Claude Jiang, Matthew Readings, Ruba Noorali, Suzanne Norman, Simon Letherman, and Eunjee Chae.

Involved fees earner: Andrea Calla – Shearman & Sterling; Eunjee Chae – Shearman & Sterling; Jade Chu – Shearman & Sterling; David Clinch – Shearman & Sterling; Marwan Elaraby – Shearman & Sterling; Claude Jiang – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Ruba Noorali – Shearman & Sterling; Suzanne Norman – Shearman & Sterling; Kok Jin Ong – Shearman & Sterling; Matthew Readings – Shearman & Sterling; Renad Younes – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Borealis AG;