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Adnoc's XRG Concludes Acquisition of Germany's Covestro

MT Newswires·12/10/2025 09:42:45
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09:42 AM EST, 12/10/2025 (MT Newswires) -- XRG completed its voluntary public takeover offer for Covestro (1COV.F) on Wednesday, according to a same-day release. The energy investment subsidiary of Abu Dhabi National Oil's, d/b/a Adnoc's, also carried out the planned 1.17 billion-euro capital increase to bolster the German chemicals producer's balance sheet. XRG offered 62 euros for each Covestro share in October 2024.