EU approves UAE Oil Giant's purchase of Germany's Covestro
11/14/2025 2:15:19 PM
The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil giant ADNOC, after the Emirati firm promised steps to alleviate competition fears.
The EU executive, which has been probing the 12-billion-euro ($14 billion) acquisition since August, said in a statement its "approval is conditional upon full compliance with the commitments offered by the parties."
The EU executive, which has been probing the 12-billion-euro ($14 billion) acquisition since August, said in a statement its "approval is conditional upon full compliance with the commitments offered by the parties."