# ADNOC to acquire Covestro for €62 per share

ADNOC International will acquire Covestro through a public takeover offer at €62 per share, valuing the deal at approximately €1.17 billion for a 10% stake increase. The transaction is expected to close pending regulatory approvals.

- Type: Acquisition
- Announced: 2024-10-04
- Where: Germany
- Value: $1.29B (1.17B EUR)
- Status: announced
- Products: engineering thermoplastics, polycarbonate, TPU resins
- 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

- [ptonline.com](https://www.ptonline.com/news/abu-dhabis-adnoc-to-acquire-covestro), 2024-10-04: "We are convinced that the agreement reached with ADNOC International is in the best interest of Covestro, our employees, our shareholders and all other stakeholders."

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