2024-10-01 13:29:08
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Adnoc's Strategic Move to Acquire Covestro
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Adnoc, an oil company from Abu Dhabi, is offering 62 Euros per share to acquire Covestro, a specialty plastics company, for 14.7 billion Euros including debt. Covestro was spun off from Bayer and listed on the stock exchange in 2015 and is one of the world's largest manufacturers of polymer materials used in various industries.
sueddeutsche
Chemical Industry: Arabs Buy a DAX Company for the First Time
Economy
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After long negotiations, the state-owned company Adnoc from Abu Dhabi and the Leverkusen-based plastics manufacturer Covestro have agreed on an acquisition. This will cost up to 16 billion euros - and yet it would have been significantly more expensive in the past.
gmx
Arab company wants to acquire plastics group Covestro
Economy
Finance
Adnoc, a state-owned oil company from the UAE, is offering 62 euros per Covestro share and wants to acquire the German plastics group for 11.7 billion euros. Additionally, Adnoc plans a capital increase of 1.2 billion euros and wants to take over Covestro's debts of 3 billion euros. The acquisition is subject to a minimum acceptance rate of 50% plus one share and must be approved by various authorities. Adnoc has assured that it will not conclude either a control or a profit and loss transfer..
stern
Foam for Cars & Co.: Arab Company Wants to Acquire Plastics Group Covestro
Economy
Finance
Adnoc, a state-owned oil company from the UAE, wants to acquire Covestro, a German plastics group, for 11.7 billion euros. Adnoc also plans a capital increase of 1.2 billion euros. The acquisition was already expected.
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