Total, Borealis and NOVA Chemicals to Form Petrochemicals Joint Venture
The joint venture will commence subject to customary closing conditions, including receipt of regulatory approvals.
Total S.A., Borealis AG and NOVA Chemicals Corp. recently announced they have signed definitive agreements to form a joint venture in petrochemicals on the U.S. Gulf Coast. The joint venture, in which Total will own 50% and Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals, will own the remaining 50%, will commence subject to customary closing conditions, including receipt of regulatory approvals.