# Covestro and XRG receive final regulatory approval for strategic partnership

Covestro AG and XRG P.J.S.C. received the final outstanding regulatory approval from the German government for their strategic partnership. All closing conditions are fulfilled, and the transaction is expected to close in the coming days.

- Type: Acquisition
- Announced: 2025-11-21
- Where: Leverkusen, Germany, Germany
- Value: $18.0B
- Status: completed
- Products: chemicals
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (target)
- [XRG](https://endata.com/companies/14160.md) (acquirer)
- [XRG P.J.S.C.](https://endata.com/companies/88625.md) (acquirer)

## Sources

- [covestro.com](https://www.covestro.com/press/covestro-and-xrg-receive-final-outstanding-regulatory-approval-for-strategic-partnership/), 2025-11-21: "Covestro AG and XRG P.J.S.C. received the final outstanding regulatory approval from the German Federal Ministry for Economic Affairs and Energy under foreign investment rules for their strategic partnership."
- [covestro.com](https://www.covestro.com/investors/news/covestro-and-xrg-receive-final-outstanding-regulatory-approval-for-strategic-partnership/), 2025-11-21: "This is an exciting new chapter for Covestro."
- [finance.yahoo.com](https://finance.yahoo.com/news/pittsburgh-based-covestro-nears-merger-133327513.html), 2025-11-30: "The pending merger of Covestro LLC and XRG, the investment company of Abu Dhabi National Oil Co. (ADNOC), won’t have an impact on the strategy or direction of the German polymers manufacturer’s North American division."
- [compositesworld.com](https://www.compositesworld.com/news/covestro-xrg-receive-final-outstanding-regulatory-approval-for-strategic-partnership), 2025-12-01: "This is an exciting new chapter for Covestro."
- [coatingsworld.com](https://www.coatingsworld.com/breaking-news/covestro-and-xrg-receive-final-outstanding-regulatory-approval-for-strategic-partnership/), 2025-12-11: "Covestro AG and XRG P.J.S.C. (formerly ADNOC International Limited, together with its subsidiaries in the following “XRG”) received the final outstanding regulatory approval from the German Federal Ministry for Economic Affairs and Energy under foreign investment rules for their strategic partnershi"

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