Covestro headquarters in Leverkusen, Germany. The corporate adjusted its full-year steering for 2022, citing quite a lot of elements.
Ina Fassbender | AFP | Getty Photographs
Abu Dhabi’s state oil firm ADNOC mentioned on Tuesday it had agreed to purchase German chemical substances agency Covestro for 14.7 billion euros ($16.4 billion).
ADNOC will launch a voluntary public takeover at a worth of 62 euros per share, which suggests an fairness worth for Covestro of about 11.7 billion euros and represents a premium of about 54% to Covestro’s closing worth on June 19, Covestro mentioned c statement.
The deal represents an enterprise worth of 14.7 billion euros, ADNOC mentioned in a separate assertion.
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