ADNOC proposes to acquire German chemicals firm Covestro for 14.4 billion euros.

Abu Dhabi National Oil Company (ADNOC) is set to formally propose acquiring German chemicals firm Covestro for around 14.4 billion euros ($15.9 billion), including debt. ADNOC has shown interest in Covestro for over a year and enhanced its bid to 11.7 billion euros in June. Covestro, specializing in plastics and chemicals, is open to discussions on key aspects like its growth strategy.

September 11, 2024
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