Abu Dhabi’s ADNOC has made a preliminary takeover proposal for German chemical group Covestro, a German chemical group, as part of its strategic plans to leverage market developments. While no official offer has been made yet, the proposal is estimated to be around €10 billion ($10.9 billion), valuing Covestro at nearly €11 billion.
ADNOC's interest in Covestro aligns with its goal to become more sustainable, although any potential deal would likely involve keeping Covestro's operations separate from ADNOC. Although a full…UAE’s ADNOC Eyes Expansion Of Downstream Activity In Europe
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