{"id":52474,"date":"2024-10-02T14:10:09","date_gmt":"2024-10-02T12:10:09","guid":{"rendered":"https:\/\/www.fyb.de\/for-e-11-7-billion-arab-oil-giant-adnoc-covets-covestro\/"},"modified":"2024-10-02T14:10:09","modified_gmt":"2024-10-02T12:10:09","slug":"for-e-11-7-billion-arab-oil-giant-adnoc-covets-covestro","status":"publish","type":"post","link":"https:\/\/www.fyb.de\/en\/for-e-11-7-billion-arab-oil-giant-adnoc-covets-covestro\/","title":{"rendered":"For \u20ac 11.7 billion: Arab oil giant Adnoc covets Covestro"},"content":{"rendered":"<p>Lever\u00adku\u00adsen \u2014 The state-owned oil company Adnoc from the United Arab Emira\u00adtes intends to take over the German plas\u00adtics group Cove\u00ads\u00adtro for 11.7 billion euros.<br>\nAdnoc is offe\u00adring 62 euros per share and also plans to buy new shares worth almost 1.2 billion euros via a capi\u00adtal increase.<br>\nLever\u00adku\u00adsen-based Bayer floa\u00adted its plas\u00adtics divi\u00adsion Cove\u00ads\u00adtro on the stock exch\u00adange in 2015 and cashed in.<br>\nArab inves\u00adtors are now inte\u00adres\u00adted in the German company.<br>\nThe state-owned oil company Adnoc from the United Arab Emira\u00adtes wants to take over the German plas\u00adtics group Covestro.<br>\nAccor\u00adding to its own state\u00adments, the poten\u00adtial Arab buyer is offe\u00adring 62 euros per share and valuing the shares in the DAX-listed company at 11.7 billion euros.<br>\nThe company from Abu Dhabi is also conside\u00adring buying shares worth almost EUR 1.2 billion from the Lever\u00adku\u00adsen-based company in a capi\u00adtal increase.<br>\nToge\u00adther with Cove\u00adstro\u2019s debt of around three billion euros, Adnoc ther\u00ade\u00adfore intends to invest almost 16 billion euros.<br>\nThe take\u00adover had been expec\u00adted for some&nbsp;time.<br>\nCove\u00adstro\u2019s manage\u00adment supports the&nbsp;offer.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lever\u00adku\u00adsen \u2014 The state-owned oil company Adnoc from the United Arab Emira\u00adtes intends to take over the German plas\u00adtics group Cove\u00ads\u00adtro for 11.7 billion euros. Adnoc is offe\u00adring 62 euros per share and also plans to buy new shares worth almost 1.2 billion euros via a capi\u00adtal increase. Lever\u00ad\u00ad\u00adku\u00ad\u00adsen-based Bayer floa\u00adted its plas\u00adtics divi\u00adsion Covestro&nbsp;[\u2026]<\/p>\n","protected":false},"author":2,"featured_media":52472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1367,1369,1371,1377,2635],"tags":[],"class_list":["post-52474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-investors","category-deals-en","category-corporate-finance-ma","category-corporate-finance-mergers-acquisitions-en-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>For \u20ac 11.7 billion: Arab oil giant Adnoc covets Covestro - FYB Financial Yearbook<\/title>\n<meta name=\"description\" content=\"Leverkusen - 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