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01-15-2020

Borealis to Acquire Interest in Novealis Joint Venture

The Transaction Is Expected to Close in the First Half of 2020

Bayport Polymers (© Total)

Borealis AG and Nova Chemicals Corporation announced they have reached an agreement for Borealis to buy Nova Chemicals’ 50% ownership interest in Novealis Holdings LLC.

Formed in 2018, Novealis is the joint venture between affiliates of Borealis and Nova Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total S.A. to launch Bayport Polymers LLC in Houston, TX/USA.

Closing of the acquisition is subject to customary regulatory approvals and other conditions but is not subject to any financing condition. The parties expect the transaction to close in the first half of 2020.

Additional information
  • 05-14-2019

    Circular Economy at a Glance

    OMV and Borealis Examine Post-Consumer Recycling

    The chemical companies are taking a joint step in the direction of chemical recycling of post-consumer plastic waste.   more

Company profile

Borealis AG

IZD Tower
AT 1220 WIEN
Tel.: +43 1 22400-302
Fax: +43 1 22400-333

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