Sector News

Borealis to acquire NOVA Chemicals ownership interest in Novealis Joint Venture

January 10, 2020
Chemical Value Chain

Borealis AG (“Borealis”) and NOVA Chemicals Corporation (“NOVA Chemicals”) today announced they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC (“Novealis”).

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 (“Baystar”) in Houston, Texas, US.

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.

By: Borealis Group

Source: borealisgroup.com

comments closed

Related News

June 3, 2023

Chemours, DuPont, and Corteva reach comprehensive PFAS settlement with U.S. Water Systems

Chemical Value Chain

The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.

June 3, 2023

Storing hydrogen in coal may help power clean energy economy

Chemical Value Chain

The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.

June 3, 2023

Soda ash producer WE Soda plans IPO, London share listing

Chemical Value Chain

WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.

How can we help you?

We're easy to reach