Abu Dhabi’s ADNOC targets giant $16bn takeover of Germany’s Covestro
The Abu Dhabi National Oil Company (ADNOC) has launched a $16bn takeover bid for German chemical giant Covestro. The move to acquire a German industrial powerhouse would be a record purchase for the Abu Dhabi company and a long-term investment in its industrial and chemical future.
Abu Dhabi’s Adnoc to acquire Covestro in €14.7B Deal
Abu Dhabi's state-owned oil company, Adnoc, announced Tuesday that it will acquire German chemicals producer Covestro AG in a €14.7 billion ($16.3 billion) deal. The move comes as the Gulf state seeks to reduce its reliance on oil while advancing its green energy goals.
A joint venture comprising Abu Dhabi National Oil Company subsidiary Adnoc Drilling, US-based SLB and Patterson-UTI ...
The Onshore Block 2 concession covers an area of 7,320 square kilometres, with PETRONAS holding 100 per cent of the ...
Petronas was also in the news earlier today as Mitsubishi Corp. announced plans to expand its investment in Malaysia's ...
Turnwell is drilling the 144 wells as part of a $1.7 billion contract that was earlier awarded by Adnoc to its subsidiary ...
There are no plans to sell, close or significantly reduce its business activities as part of the transaction, Covestro ...
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