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BASIC INDUSTRIES: Covestro (COVEGR Baa2/NR/NR): Adnoc Deal Confirmed

BASIC INDUSTRIES
  • In line with media reports, Adnoc has agreed a deal to take over Covestro at €62 / share subject to a minimum acceptance of 50%+1.
  • Adnoc will also subscribe to a 10% capital raise on closing.
  • Adnoc has undertaken not to enter into a domination agreement or P&L transfer through 2028.
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  • In line with media reports, Adnoc has agreed a deal to take over Covestro at €62 / share subject to a minimum acceptance of 50%+1.
  • Adnoc will also subscribe to a 10% capital raise on closing.
  • Adnoc has undertaken not to enter into a domination agreement or P&L transfer through 2028.