3 days ago
Adnoc's €12 Billion Covestro Takeover Hit by EU Subsidy Probe
Abu Dhabi National Oil Co. 's planned takeover of Covestro AG for nearly €12 billion ($14 billion) has been hit by an in-depth European Union probe under the bloc's tough new foreign-subsidy rules.
EU regulators said Monday they will investigate concerns that Adnoc's state funding by the United Arab Emirates could allow it to behave in a way that hampers fair competition across the bloc.
