Branching out
ADNOC clinches $17B Covestro deal after regulatory battle
The acquisition strengthens state-owned Adnoc’s strategy to diversify beyond its oil and gas business, and build a global chemicals portfolio
Fabian Strauch/picture alliance via Getty Images
Recycled materials on display in a Covestro showroom
Add The Circuit on GoogleComing out on top after more than a year of scrutiny by European regulators, ADNOC has secured a 95% stake in Germany’s Covestro, completing the largest acquisition in the UAE energy firm’s history and deepening its push into chemicals....
