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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.

Authors :
Dummett, Ben
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