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Covestro AG enters into concrete negotiations with Adnoc regarding a potential transaction

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Covestro, Adnoc


Based on the open-ended talks held so far with Abu Dhabi National Oil Company (Adnoc) the Board of Management of Covestro AG after consultation with the Supervisory Board has decided to enter into concrete negotiations with Adnoc regarding a potential transaction and the potential conclusion of an investment agreement as well as to allow for an adequate exchange of company information to confirm assumptions (confirmatory due diligence).

Starting point for the negotiations is a possible offer price of €62 per Covestro share that Adnoc has indicated to Covestro, which is subject, among other things, to the results of the confirmatory due diligence and agreement on the content of an investment agreement.

Read more at Covestro Press