Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Exclusive-ADNOC set to gain unconditional EU antitrust nod for Covestro deal, sources say
    Finance

    Exclusive-ADNOC set to gain unconditional EU antitrust nod for Covestro deal, sources say

    Published by Global Banking & Finance Review®

    Posted on May 6, 2025

    2 min read

    Last updated: January 24, 2026

    Exclusive-ADNOC set to gain unconditional EU antitrust nod for Covestro deal, sources say - Finance news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    ADNOC is set to receive EU antitrust approval for its acquisition of Covestro, marking a strategic investment shift amid global energy changes.

    ADNOC to Secure EU Approval for Covestro Acquisition Deal

    By Foo Yun Chee

    BRUSSELS (Reuters) -Abu Dhabi state oil giant ADNOC is set to secure unconditional EU antitrust approval for its 14.7 billion euro ($16.6 billion) takeover of German chemicals company Covestro, two people with direct knowledge of the matter said.

    The deal, ADNOC's biggest ever, underscores Middle East countries' plans to diversify their investments and reduce dependence on oil amid the global transition to cleaner energy.

    The European Commission does not see any competition issues because there are no overlaps between the two companies, the people said.

    The EU competition watchdog, which is scheduled to decide on the deal by May 12, declined to comment. ADNOC, which expects to close the deal in the second half of this year, could not be immediately reached for comment.

    Covestro, which earlier on Tuesday cut its 2025 core profit expectations, said it does not speculate about regulatory proceedings.

    "XRG and Covestro are working constructively with all relevant authorities on the FSR, FDI and Merger Control filings. We are confident that all outstanding approvals can be obtained within the long-stop date (02.12.2025)," the company said in an email.

    Once the deal is completed, XRG - the international investment arm of ADNOC - will become the new majority shareholder in Covestro, which makes plastics and chemicals for the automotive, construction, and engineering sectors.

    The South African and Indian competition watchdogs have already cleared the deal without demanding remedies.

    The acquisition is also subject to the EU's Foreign Subsidies Regulation (FSR), where the focus is on unfair foreign aid for companies. The rules aim to rein in unfair competition from non-EU companies subsidised by their governments.

    ADNOC has yet to seek FSR clearance for the deal. It secured unconditional EU approval last year under the FSR for its acquisition of fertiliser firm Fertiglobe.

    ($1 = 0.8839 euros)

    (Reporting by Foo Yun Chee; Editing by Kirsten Donovan and Emelia Sithole-Matarise)

    Key Takeaways

    • •ADNOC to gain EU antitrust approval for Covestro acquisition.
    • •Deal highlights Middle East investment diversification.
    • •No competition issues identified by the European Commission.
    • •South African and Indian regulators have cleared the deal.
    • •ADNOC's acquisition subject to EU's Foreign Subsidies Regulation.

    Frequently Asked Questions about Exclusive-ADNOC set to gain unconditional EU antitrust nod for Covestro deal, sources say

    1What is the main topic?

    The article discusses ADNOC's acquisition of Covestro and its EU antitrust approval.

    2Why is this deal significant?

    It represents a strategic shift in Middle East investments amid global energy transitions.

    3What regulatory approvals are involved?

    The deal requires EU antitrust approval and is subject to the EU's Foreign Subsidies Regulation.

    More from Finance

    Explore more articles in the Finance category

    Image for If US attacks, Iran says it will strike US bases in the region
    If US attacks, Iran says it will strike US bases in the region
    Image for Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Image for Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Analysis-Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
    Image for NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports
    Image for Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Stellantis-backed ACC drops plans for Italian, German gigafactories, union says
    Image for US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    Image for Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    Image for Two Polish airports reopen after NATO jets activated over Russian strikes on Ukraine
    Two Polish airports reopen after NATO jets activated over Russian strikes on Ukraine
    Image for French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    Image for Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    View All Finance Posts
    Previous Finance PostSpain's nuclear lobby urges review of phase-out plan following blackout
    Next Finance PostAmbrey says RSF launched drone attack on Port Sudan's container terminal