October 01, 2024 06:58 GMT
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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