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Announced

Abu Dhabi National Oil Company to acquire Covestro for €11.7bn.

Synopsis

Abu Dhabi National Oil Company, a state-owned oil company of the UAE, offered to acquire Covestro, a producer of bisphenol, for €11.7bn. ”We have made good progress in our discussions with Adnoc. Therefore, we have decided to enter into concrete transaction negotiations with Adnoc,” Markus Steilemann, Covestro CEO.

Principals

COVESTRO

target

COVESTRO

Abu Dhabi National Oil Company (adnoc)

bidder

Abu Dhabi National Oil Company (adnoc)

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Market Context

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Sebastian Mewissen

Sebastian Mewissen

PR ConsultantManaging Director at FGS Global
Deal Bio
Total Deals
6/
Total Value
£16,528M
Markus Steilemann

Markus Steilemann

ManagerCEO at COVESTRO
Deal Bio
Total Deals
4/
Total Value
£9,958M
Sultan Al Jaber

Sultan Al Jaber

ManagerChairman at ABU DHABI NATIONAL OIL COMPANY (ADNOC)
Deal Bio
Total Deals
5/
Total Value
£13,986M

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