Complete the merger of my company "Porridge" and"Burialis" During the first quarter of 2026

2025/03/04 12:48:07 PM

6 minutes read

Abu Dhabi, March 4/ WAM/ Bruges BLC, Bruges, listed in the Abu Dhabi Securities Market, one of the petrochemical companies specialized in providing innovative urine solutions to the market today, announced the developments of the Abu Dhabi National Petroleum Agreements (ADNOC), and “OV -Octozelshevs” or MV The proposal between the two companies, “Buruj” “Buruj” and “Borealis AG”, “Borealis”, to establish “Borouj International Group”, and its acquisition of “Nova Chemical Company” “Nova”.

It is expected that the integration process will be completed in the first quarter of 2026, after fulfilling the related conditions and approvals ongoing with the Securities and Commodities Authority.
The company will hold a briefing in cooperation with the companies “ADNOC” and “XRG” for investors, to inform them of the developments of the most prominent conditions of the proposed deal, after announcing it on the part of “ADNOC” and “OMV”.

According to the terms of the agreement for this deal, both “ADNOC” and “OMV” will have equal shares of 46.94% in the “Bruges International Group”, with joint control and equal partnership, while the remaining percentage will be 6.12% in free shares after obtaining the approval of each of the Securities and Commodities Authority and the assumption of accepting all current free shares in “Borouj” offer Switching their current shares in “Buruj” to shares in “Bruges International Group”.
It is expected, according to the proposed deal, that “OMV” pump a first cash amount of up to 6.1 billion dirhams “1.6 billion euros” in the “Bruges International Group” that will be included in the Abu Dhabi Securities Market, on the assumption of the approval of the Securities Authority and the Abu Dhabi Securities Market.
The amount will be reduced upon completion of the deal according to the review of the value of the financial rights in the “Buruj” and “Burialis” companies after the expiry of the expected profit distributions process.

It is expected that the proposed deals work will be completed in the first quarter of 2026, after the necessary conditions and the approval of the relevant regulatory authorities are fulfilled.

The Bruges International Group acquires the “Nova Chemical Company” for 49.2 billion dirhams “13.4 billion dollars”, including debt, to expand its presence in North America. It is planned that the acquisition will contribute to the group to become the fourth largest Olympic Polycolition Company in the world in terms of productive capacity.
It is one of the most important elements of the agreement to reach an agreement from the “ADNOC” and “OMV” companies regarding the re -expansion project of “Bruges 4” with the assignment value estimated at 27.5 billion dirhams “7.5 billion dollars”.

It is expected that the contribution will be re -operated by the operation of “Bruges 4” at full capacity at the end of 2026 and upon its completion, the “Borouge 4” project will raise the production capacity of 1.4 million tons annually with expected annual profits of about 3.3 billion dirhams “900 million US dollars” during the course before the benefits, taxes, depreciation and consumption.
The final deal will be subject to a comprehensive review by the Board of Directors of “Beruj BLC” and any other relevant parties.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that the proposed integration between “Buruj” and “Burialis” with the acquisition of “Nova”, represents an important growth opportunity as this deal is characterized by clear strategic prospects, and contributes to enhancing the company’s presence in global markets and the possibility of access to it significantly.

He added that the company is working to create a multi -dimensional strategic and financial value, by combining the advantages and strengths of the three leading companies in the urinary Olyfin sector, which includes the possession of global level technology and competitive raw materials, distinguished products, direct access to growth markets, and the application of leading standards at the sector level in the field of circular economy.
The proposed deal announced by the “ADNOC” and “OMV” company includes the establishment of a global platform for polyclipin with a strong presence and widespread spread.

The proposed deals will contribute to establishing the fourth largest urine Olyvin in the world in terms of nominal capacity, which will reach 13.6 million tons annually, including the Bruges 4 expansion project.

The new joint entity will feature large -scale production capabilities, a marketing network and sales covering all the main markets.
After the merger, the “Bruges International Group” will acquire the “Nova Chemical Company”, a pioneering company in polyethylene production in North America with a production capacity of 2.6 million tons of polyethylene and 4.2 million tons of ethylene, which enhances Bruges’s presence globally through a large -scale presence in North America, a distinctive product wallet, and a broader group of advanced production technologies.
The deal also includes a significant increase annually in the volume of profits before deducting interest, taxes, depreciation and consumption, exceeding 25.7 billion dirhams “7 billion dollars” during the session, where it is expected to achieve a significant increase in the volume of total profits before deducting interest, taxes, destruction and consumption by assuming market conditions in the medium term, and operating expansion projects in production capacity such as “Borouge 4”, “Calo” and “AST2”, The returns of operational and commercial integration are achieved with a value of up to 1.8 billion dirhams “500 million dollars”.
The deal includes plans to distribute profits, with the support of the generation of stronger cash flows, and the policy of distributing the “Bruges International Group” will depend on a distribution rate of 90% with the possibility of adding bonuses to distributions based on the free cash flow, with the aim of maintaining a minimum distribution of annual profits of 16.2 fils per share, which represents an increase of 2% against the “Bruges” profits of the target for one share per year 2024.
The deal includes a positive result of the contribution of the Buruj 4 expansion project, where “ADNOC” and “OMV” have agreed to re -contribute the “Bruges 4” project upon its completion at the end of 2026, at the value of the cost estimated at 27.5 billion dirhams (7.5 billion dollars), with annual profits expected when the operation is complete of about 3.3 billion dirhams “900 million US dollars” during the session before the deduction Benefits, taxes, destruction and consumption.
It includes pioneering technologies backed by a strategy that focuses on innovation and enhancing research and development efforts, as the advanced innovation and technology system is the essence of the strategies of “Buruj”, “Burialis” and “Nova Chemicals”.

In the presence of the three companies, the “Bruges International Group” will include more than 800 experts in the fields of research and development, and more than 16,500 patents, and seven global level innovation centers, which will contribute to having more distinctive and broader capabilities to provide higher value products.
The deal also includes an attractive financial file with a strong public budget and pioneering profit margins in the sector, it is expected that the profit margin file for the new group will remain the best in its category in the world, and that it is flexible throughout the market cycle compared to other companies in the sector, and is able to provide financial strength to finance growth opportunities in the future.
The deal contributes to creating a reinforced value, as the proposed deals are expected to contribute to creating a great value for shareholders, by facilitating access to global markets through the production network, purchases and processing of operations, and by achieving operating and commercial synergy, enhancing access to global markets, accelerating the deployment of new innovations, and participating and developing advanced technology, with the possibility of achieving an expected value of business integration.

The deal includes the commitment to sustainable and circular solutions, as the Bruges International Group will continue to establish its position in the field of circular solutions, by relying on the leading technology portfolio of both Burialis, Buruj and Nova Chemical companies to continue to develop sustainable urine solutions.

Burialis and Buruj have committed to achieving climate neutrality in the 1 and 2 ranges before 2050 through the strategy and goals of sustainability for the Bruges International Group, which will be implemented after completing the integration process.
It is scheduled to be the headquarters of the “Bruges International Group” in Vienna, with a regional headquarters in Abu Dhabi, after obtaining the relevant necessary organizational approvals, and the group will maintain its main positions in Kalgari “Alberta Province, Canada”, Pontsburg “Pennsylvania, USA, and Singapore.
Bruges will continue to disclose information related to these deals to the market periodically, in line with its organizational and administrative obligations.