Adnoc Finishing Remedies to Adress EU's Covestro Deal Investigation, Reuters Says, Citing Sources
--Adnoc, Abu Dhabi's state oil company, is finishing remedies to address an EU subsidy investigation into its 14.7 billion euros ($17.19 billion) bid for Germany's chemical manufacturer, Covestro, Reuters says, citing unnamed sources. The EU previously expressed concerns that the deal might receive foreign subsidies distorting the EU market.
--Adnoc will likely commit to keeping Covestro's technology and intellectual property in Europe, Reuters says, citing sources.
--The deal would be Adnoc's biggest-ever acquisition and one of the largest foreign takeovers of an EU company by a Gulf state, Reuters reports.
--Reuters reports that the company also plans to address EU concerns about unlimited state guarantees.
Full story: https://tinyurl.com/mw6w8pm6
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
September 11, 2025 04:44 ET (08:44 GMT)
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