UAE energy giant gets green light for $16B takeover of German firm Covestro https://t.co/WhevLPCyPP
Übernahme durch Adnoc: Covestro fliegt nach Weihnachten aus dem Dax https://t.co/KVwtqYhepV
UAE energy giant gets green light for $16B takeover of German firm Covestro, @jackvdutton reports https://t.co/WhevLPCyPP
Merger and acquisition activity in the Middle East reached $36 billion in 2024, primarily driven by the United Arab Emirates (UAE) and Saudi Arabia. A notable transaction involves the Abu Dhabi National Oil Company (ADNOC), which has received approval for a $16 billion takeover of the German chemical manufacturer Covestro. ADNOC plans to maintain Covestro as a standalone business, emphasizing its potential for growth. Covestro's shareholders have accepted ADNOC's takeover offer, marking a significant step in the deal's progression.
