Abu Dhabi state oil giant ADNOC is readying remedies to address an EU subsidy investigation into its 14.7 billion euro (17.2 billion USD) bid for Germany's Covestro, which will likely see it convert a proposed 1.2 billion euro capital hike to a shareholder loan. The deal is ADNOC's biggest acquisition to date and is one of the largest foreign takeovers of an EU company by a Gulf state.

ADNOC Close to Finalizing EU Remedies for Covestro Deal

Posted On: September 16, 2025

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Abu Dhabi state oil giant ADNOC is readying remedies to address an EU subsidy investigation into its 14.7 billion euro (17.2 billion USD) bid for Germany’s Covestro, which will likely see it convert a proposed 1.2 billion euro capital hike to a shareholder loan. The deal is ADNOC’s biggest acquisition to date and is one of the largest foreign takeovers of an EU company by a Gulf state.

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ADNOC Close to Finalizing EU Remedies for Covestro Deal

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