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E.U. launches probe into Adnoc's $13.7B Covestro acquisition

EU Launches Investigation Into Adnoc’s $13.7 Billion Acquisition of Covestro

The European Commission cited concerns that foreign subsidies from the United Arab Emirates could distort the European market.

Reuters on MSN · 2d

ADNOC's Covestro deal in EU crosshairs over subsidies

Abu Dhabi state oil giant ADNOC's 14.7 billion euro ($17.2 billion) bid for German chemicals company Covestro may face hurdles after EU antitrust regulators opened an investigation on Monday into potential distortions caused by foreign subsidies.

Seeking Alpha on MSN · 2d

E.U. launches probe into Adnoc's $13.7B Covestro acquisition over subsidies

The European Commission said it is launching an in-depth investigation into Abu Dhabi National Oil Co.'s €11.7B (~$13.75B) acquisition of Covestro.

Free Malaysia Today on MSN2d

EU probes UAE oil giant’s purchase of Germany’s Covestro

Plastics maker Covestro accepted a bid – valuing the company at €12 billion – from the Abu Dhabi National Oil Company in ...

Plastics News9mon

Analyst sees benefits to Adnoc's purchase of Covestro | Plastics News

Covestro said in a statement that "there are no plans to sell, close or significantly reduce Covestro's business activities as part of the transaction." In the investment agreement, Adnoc ...

Yahoo Finance10mon

ADNOC to buy German chemical company Covestro in $12.9bn deal

Abu Dhabi National Oil Company (ADNOC), through its subsidiary ADNOC International, has signed an agreement to acquire German chemical manufacturer Covestro for €11.7bn (Dh47.43bn).

The Financial Times2y

Adnoc/Covestro: strong chemistry explains the attraction

While Adnoc’s informal offer — about €55 a share — is at a premium of about 35 per cent to Covestro’s undisturbed stock price, that is only where the shares traded in early 2022.

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