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The European Commission cited concerns that foreign subsidies from the United Arab Emirates could distort the European market ...
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 made an informal offer of 57 euros per share in July. Covestro confirmed in September that it had entered into "open-ended discussions" with the suitor over a takeover approach.
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 ...
Representatives for Adnoc and Covestro declined to comment. Adnoc has been pursuing Covestro since the middle of last year, part of the Abu Dhabi company’s push to diversify internationally.
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.
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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 ...
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