Germany: The European Commission has conditionally cleared UAE-based Abu Dhabi National Oil Company (ADNOC)'s €11.8bn bid for plastics producer Covestro. To counter possible negative effects, ADNOC has offered to discard its unlimited UAE state subsidisation and to share Covestro's sustainability patents with some competitors, Emerging Markets Watch News has reported.
The deal would reportedly mark the watershed in terms of value of overseas investments by UAE-based entities to date. Covestro’s revenues were €3.2bn in the third quarter of 2025, with a net loss of €47m.
