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).

An Adnoc subsidiary has agreed to buy German chemicals maker Covestro for an enterprise value of €14.7 billion ($16.34 billion) as the Abu Dhabi-based energy company grows to become a major ...

Abu Dhabi National Oil Co. reached a deal to buy chemical producer Covestro AG for about €11.7 billion ($13 billion), in what’s set to be the biggest Middle Eastern acquisition of a European firm.

ADNOC will launch a 62 euros-per-share voluntary public takeover that implies an equity value for Covestro of around 11.7 billion euros and represents a premium of around 54% to Covestro's closing ...

Covestro AG (Leverkusen, Germany), a manufacturer of high-quality polymer materials and their components, has signed an investment agreement with the Abu Dhabi National Oil Co. (ADNOC) Group (United ...

Previous ADNOC offers for Covestro had been estimated at $11 billion and $12 billion. "We have made good progress in our discussions with ADNOC," Covestro CEO Markus Steilemann said.

Covestro said on Tuesday its management board is likely to recommend Abu Dhabi National Oil Company's (ADNOC) $16.3 billion takeover offer to shareholders in the next few weeks, as the German ...

An oil producer from the United Arab Emirates has clinched a $13 billion-plus deal for Germany’s Covestro 1COV -0.46% —a big bet on chemicals as part of its effort to transform into a fully ...

That implies a replacement cost value for Covestro that is closer to 70 EUR per share. Sixty-two euros is a good deal for ADNOC, but also offers a good spread for speculators.

Covestro said on Wednesday that it is under no legal deadlines to come to a decision in talks with suitor Abu Dhabi National Oil Company (ADNOC) and that it would take the time it needs to ...

(Reuters) - Abu Dhabi National Oil Company (ADNOC) is expected to make a formal offer to acquire Covestro for about 14.4 billion euros ($15.9 billion) including debt, the Financial Times reported ...

An oil producer from the United Arab Emirates is finally set to clinch a $13 billion-plus deal for Germany’s Covestro 1COV -0.53% —a big bet on chemicals as part of its effort to transform ...