Mubadala Explores Options on NOVA Chemicals
Posted on 03/28/2019
Mubadala Investment Company is contemplating options for its ownership in Calgary-based NOVA Chemicals Corporation. Mubadala is talking to financial advisors on possibly selling a stake in the plastics manufacturer. [private_standard]Mubadala could end up keeping its holding in NOVA Chemicals.
The business could be valued at a price of US$ 10 billion, or possibly more.
The chemicals industry is somewhat regulated. One of NOVA’s products is the Mixed C4 Product, which is manufactured at NOVA Chemicals’ Corunna, Ontario facility. The product is transported by pipeline and it is used as feedstock for industrial chemicals, plastics, and rubber manufacturing.