Adnoc's XRG clears the final hurdles for Covestro takeover

Company gets final regulatory clearances from Germany and European Commission

- BY JUSTIN VARGHESE Your Money Editor

Adnoc’s XRG has received the last regulatory clearances for its acquisition of Covestro AG, marking a significant milestone after nearly a year of scrutiny under multiple EU review processes.

With Germany’s Federal Ministry for Economic Affairs and Energy approving the transaction under its foreign direct investment regime — and the European Commission granting clearance under the EU Foreign Subsidies Regulation (FSR) on November 14 — the deal is now set to close in the coming days.

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