Exclusive: EU antitrust regulators to okay ADNOC, Covestro deal, sources say
Item 1 of 2 The logo of German chemicals maker Covestro is pictured at its headquarters in the so-called industrial park "Chempark" of the chemical industry in Leverkusen, Germany, September 28, 2023. REUTERS/Wolfgang Rattay/File photo
BRUSSELS, May 6 (Reuters) - Abu Dhabi state oil giant ADNOC is set to secure unconditional EU antitrust approval for its 14.7 billion euro ($16.6 billion) takeover of German chemicals company Covestro (1COVG.DE)
, opens new tab , two people with direct knowledge of the matter said.
The deal, ADNOC's biggest ever, underscores Middle East countries' plans to diversify their investments and reduce dependence on oil amid the global transition to cleaner energy.
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Reporting by Foo Yun Chee; Editing by Kirsten Donovan
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