Finance
EU antitrust regulators resume foreign aid probe into ADNOC's Covestro deal
Published by Global Banking & Finance Review®
Posted on July 3, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 3, 2025
1 min readLast updated: January 23, 2026
EU antitrust regulators have resumed their review of ADNOC's €14.7 billion acquisition of Covestro, with a decision expected by July 28.
BRUSSELS (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 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)
(Reporting by Foo Yun Chee. Editing by Jane Merriman)
ADNOC's acquisition of Covestro is valued at 14.7 billion euros, which is approximately 17.3 billion dollars.
The EU competition enforcer temporarily halted its review on May 28 but has since resumed scrutiny of the acquisition.
The EU has set a new deadline of July 28 for its decision regarding the acquisition of Covestro by ADNOC.
The EU's Foreign Subsidies Regulation targets unfair foreign aid for companies, requiring them to provide concessions in exchange for clearance of their deals.
In May, ADNOC secured EU approval for the acquisition under EU merger rules.
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