ADNOC’s $13.9 billion Covestro acquisition secures conditional EU approval
November 14, 2025
(World Oil) – Abu Dhabi National Oil Co. won conditional European Union approval for its €12 billion ($13.9 billion) takeover of Covestro AG after it dealt with EU concerns that its state subsidies could stifle competition. The European Commission said Friday that an offer from ADNOC to maintain Covestro’s intellectual property in Europe as well as concessions on the company’s unlimited state guarantee from the UAE settled its earlier
