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EC Conditionally Approves ADNOC’s $17-Billion Acquisition of Covestro
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Why This Matters
The European Commission has conditionally approved ADNOC's $17 billion acquisition of Covestro, a significant transaction in the chemicals industry. This approval follows concerns about foreign subsidies potentially distorting competition, indicating a cautious but positive regulatory stance towards the deal.
Market Impact
Market impact analysis based on bullish sentiment with 72% confidence.
Sentiment
Bullish
AI Confidence
72%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The European Commission has approved with conditions the $17-billion acquisition by Abu Dhabi National Oil Company (ADNOC) of Germany’s chemicals giant Covestro, the EU’s executive arm said on Friday, following an investigation into foreign subsidies it feared would distort competition. At the end of last year, Abu Dhabi’s oil company agreed to buy Covestro in a deal worth $17 billion (14.7 billion euros) including debt. The deal was one of the largest cash transactions in the chemicals industry ever, as well as the first time…
Original article published by
OilPrice.com
on November 14, 2025.
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