Mubadala said to mull options for $10b Canadian plastics maker Nova

A Mubadala Development Co. employee pauses near the company's logo at their exhibition booth during the Singapore Airshow in Singapore. Photographer: JONATHAN DRAKE/Bloomberg

Abu Dhabi’s Mubadala Investment Co. is exploring options for Nova Chemicals Corp., a Canadian plastics maker that could be valued at $10 billion or more, according to people with knowledge of the situation.

The sovereign wealth fund is working with financial advisers as it weighs what to do with the asset, including selling a stake to a Canadian pension fund or another company in the industry, said the people, who asked not to be identified as the matter is private. No final decisions have been made, and Mubadala may still decide to keep its holding in Nova, they said.

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