# ADNOC adjusts acquisition offer for Covestro

ADNOC is modifying its €14.7 billion ($17.2 billion) acquisition of German chemicals company Covestro, converting a proposed €1.2 billion capital increase into a market-rate loan to shareholders, in response to EU concerns over state subsidies.

- Type: Acquisition
- Announced: 2025-09-10
- Where: Germany
- Value: $17.2B (14.7B EUR)
- Status: announced
- Products: polyurethane, polycarbonate
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (target)
- [ADNOC](https://endata.com/companies/2481.md) (acquirer)

## Sources

- [forbesmiddleeast.com](https://forbesmiddleeast.com/ar/industry/business/adnoc-close-to-finalising-eu-remedies-for-covestro-deal-sources-say), 2025-09-10: "تأتي التعديلات استجابة لمخاوف الاتحاد الأوروبي بشأن تحقيق يتعلق بدعم حكومي إماراتي للصفقة البالغة قيمتها 14.7 مليار يورو (17.2 مليار دولار)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.