Abu Dhabi National Oil Company completed the acquisition of Covestro for €14.7bn.

Abu Dhabi National Oil Company, a state-owned oil company of the UAE, completed the acquisition of Covestro, a producer of bisphenol, for €14.7bn. “With today’s closing of the transaction, we can now begin our joint journey with XRG. Together with XRG as a strong and long-term partner, we are well positioned to drive Covestro’s transformation and create long-term value for our customers, employees, and stakeholders worldwide,” Markus Steilemann, Covestro CEO. On November 14, 2025, European Commission conditionally approves ADNOC's acquisition of Covestro.