Frankfurt, Germany, Oct 1, 2024 (AFP) - UAE oil giant ADNOC to buy German chemicals firm for 12 bn euros

NAMPA / AFP

2024-10-01

German chemicals group Covestro said Tuesday it had accepted a takeover bid from the United Arab Emirates state energy company ADNOC, valuing the plastics-maker at 12 billion euros ($13.3 billion). The agreement signed between the two groups "stipulates that the bidder will make a public takeover offer for all outstanding shares of Covestro at a price of 62.00 euro per share", Covestro said in a statement. The takeover offer by the Abu Dhabi Nati......

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