{"id":102256,"date":"2025-04-03T00:00:00","date_gmt":"2025-04-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/eu-regulators-to-make-a-decision-on-adnocs-covestro-takeover-in-may\/"},"modified":"2025-04-03T00:00:00","modified_gmt":"2025-04-03T00:00:00","slug":"eu-regulators-to-make-a-decision-on-adnocs-covestro-takeover-in-may","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/04\/03\/eu-regulators-to-make-a-decision-on-adnocs-covestro-takeover-in-may\/","title":{"rendered":"EU regulators to make a decision on Adnoc\u2019s Covestro takeover in May"},"content":{"rendered":"

EU antitrust regulators will decide on Adnoc\u2019s EUR 14.7 bn takeover of German <\/strong>chemicals firm Covestro on 12 May<\/strong>, the European Commission said in a regulatory filing on its website. Approval from the commission can come with or without conditions \u2014 and the transaction could also see a further four-month investigation following the preliminary review. The acquisition of Covestro was expected to close in 2H 2025.<\/span><\/p>\n

Refresher:<\/strong> Adnoc\u2019s new low-carbon energy investment arm XRG is set to acquire a majority stake<\/a> in German chemicals company Covestro \u2014 marking the largest takeover from a Middle Eastern buyer in Europe in 16 years \u2014 following the completion of its voluntary public takeover offer. Regulatory clearances from countries where Covestro operates have already started pouring in, with the acquisition receiving approval in December from the Competition Commission of India, where Covestro operates through its subsidiary Covestro India.<\/p>\n

The European Commission has been the reason behind delays in Emirati takeovers in Europe before:<\/strong> The commission launched its first-ever anti-subsidy probe<\/a> into a foreign buyer against e& for its acquisition of a controlling stake (50% +1 economic share) in PPF Telecom Group, but later concluded that market competition won\u2019t be affected by this transaction. Still, the commission placed several conditions on e& for an extendable duration of 10 years, including a commitment not to funnel any state funding into PPF\u2019s EU operations without EU review.<\/p>\n

This story was updated with the correct value of the takeover.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction could see a further four-month investigation following the preliminary review<\/p>\n","protected":false},"author":1,"featured_media":102257,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[57,1344,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-102256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adnoc","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"9b970a4b-5bd5-4daa-9e5d-d7173c1f5142","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EU regulators to make a decision on Adnoc\u2019s Covestro takeover in May","related_issue":[102251],"teaser":"The transaction could see a further four-month investigation following the preliminary review","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.ad8802a4-bf97-4ca3-97bb-dc93f8d48b0a.mp3"},"yoast_head":"\nEU regulators to make a decision on Adnoc\u2019s Covestro takeover in May - 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