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Exclusive | UAE's Adnoc Nears $13 Billion Deal to Buy Germany's Covestro.
Exclusive | UAE's Adnoc Nears $13 Billion Deal to Buy Germany's Covestro.
- Source :
-
Wall Street Journal - Online Edition . 10/1/2024, pN.PAG-N.PAG. 1p. - Publication Year :
- 2024
-
Abstract
- Abu Dhabi National Oil Co. (Adnoc) is nearing a $13 billion deal to acquire Germany's Covestro, a major producer of polymer materials used in various industries. The deal is part of Adnoc's efforts to transform into a fully integrated energy company and expand into chemical production. Talks have been ongoing for over a year, with negotiations focused on price and job protections for Covestro employees. Adnoc's challenge will be to revive Covestro's slumping sales and profits in the face of underwhelming demand and prices for its products. [Extracted from the article]
Details
- Language :
- English
- Database :
- Academic Search Index
- Journal :
- Wall Street Journal - Online Edition
- Publication Type :
- News
- Accession number :
- 180042069