Today, ADNOC announced that ADNOC International Limited (ADNOC International) has initiated a voluntary public takeover offer to all shareholders for a cash consideration of Dhs254 (€62) per share, and that it has entered into an investment agreement with Covestro AG (Covestro), one of the major chemical players in the world.
Covestro is a leading global player in the high-tech specialty chemicals market. It pioneered the industry and offers a range of goods and cutting-edge technologies that promote the circular economy and decarbonisation. The company has 48 production sites and 13 research and development (R&D) facilities worldwide, serving over 8,500 international commercial customers.
Covestro is a leading manufacturer of advanced speciality products used in semiconductors, including wafer containers and chip carriers, plastics, performance materials, coatings, and adhesives. It also produces air ducts, server thermal management solutions, and structural components. Additionally, Covestro supports the development of artificial intelligence (AI) by providing advanced moulding technologies and thermal conductive solutions. With over 10,700 world-class speciality solutions at its d
With a focus on gas, LNG, chemicals, and low-carbon energies, in line with its Board-mandated plan, ADNOC is delivering on its ambitious worldwide development, and this historic deal represents a step-change in the company’s international growth strategy.
Also Read:
Masdar and Taaleri Conclude the deal Financially on the 154 MW wind Project in Serbia.
