News Formal

Covestro in 'Concrete Transaction Negotiations' for $12.5B ADNOC Takeover

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 17 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 68%

ADNOC News

Covestro,Abu Dhabi,Chemicals

The year-long efforts of Abu Dhabi National Oil Company ADNOC to acquire German chemicals firm Covestro moved a step closer to a successful conclusion

after Covestro said on Monday it had decided to “enter into concrete negotiations with Adnoc” and open its books for due diligence on a proposed $12.5 billion 11.7 billion euros deal. Covestro’s board has decided to enter into these talks with

told Reuters, commenting on Covestro's decision, “We look forward to jointly working with Covestro to swiftly progress due diligence for this important transaction.” The offer of 62 euros $66.62 per share is first approached Covestro a year ago. In September 2023, Covestro launched open-ended talks with the Abu Dhabi firm.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ADNOC Moves Ahead With Huge LNG Export Project in UAEADNOC has taken the final investment decision to move forward with the Ruwais LNG project in the UAE.
Source: OilandEnergy - 🏆 34. / 68 Read more »