Story perspectives
ADNOC Seeks EU Approval for €14.7B Covestro Deal
10/6/2025
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Story summary
- Abu Dhabi National Oil Company (ADNOC) submitted remedies to obtain EU approval for its €14.7 billion bid for Covestro.
- The European Commission is reviewing the deal amid concerns over state subsidies and foreign aid.
- ADNOC’s proposed commitments include keeping Covestro’s intellectual property in Europe.
- The approval timeline has been extended to late 2025 due to the transaction’s complexity.
