Urethane Blog
More Review for ADNOC & Covestro Deal
July 23, 2025
EU antitrust regulators resume foreign aid probe into ADNOC’s Covestro deal
By Reuters
July 3, 20251:24 PM EDTUpdated July 3, 2025
- Companies
Covestro AGBRUSSELS, July 3 (Reuters) – EU antitrust regulators have resumed scrutiny of Abu Dhabi state oil giant ADNOC’s 14.7-billion euro ($17.3 billion) acquisition of German chemicals company Covestro (1COVG.DE)
,after the companies provided the information they requested, according to an update on the European Commission website.
The EU competition enforcer, which had temporarily halted its review on May 28, set a new deadline of July 28 for its decision.
The EU’s Foreign Subsidies Regulation takes aim at unfair foreign aid for companies which may have to provide concessions to offset the state support in return for clearance of their deals.
ADNOC had in May secured EU approval for the acquisition under EU merger rules.
($1 = 0.8511 euros)
Sign Up for Email Updates
Everchem Updates Archive