# CCI approves ADNOC's acquisition of Covestro AG

The Competition Commission of India approved the acquisition of up to 100% of Covestro AG by Abu Dhabi National Oil Company (ADNOC) via a public takeover offer and capital increase.

- Type: Acquisition
- Announced: 2024-12-10
- Where: Germany
- Value: $16.3B (14.7B EUR)
- Status: announced
- Products: polycarbonates, urethane components, engineering plastics, coatings raw materials, thermoplastic polyurethanes
- 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)
- [Abu Dhabi National Oil Company](https://endata.com/companies/5511.md) (acquirer)

## Sources

- [pib.gov.in](https://www.pib.gov.in/PressReleasePage.aspx?PRID=2082973), 2024-12-10: "CCI approves acquisition of Covestro AG by Abu Dhabi National Oil Company."
- [al-monitor.com](https://www.al-monitor.com/index%2ephp/es/originals/2024/12/el-gigante-energetico-de-los-emiratos-arabes-unidos-obtiene-luz-verde-para), 2024-12-19: "XRG, la división de inversión internacional y energía baja en carbono de Abu Dhabi National Oil Company, anunció el jueves que se convertirá en el nuevo accionista mayoritario de Covestro."

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