The long-awaited acquisition of German plastics company Covestro It should dry soon. The UAE’s state oil company ADNOC is offering 62 euros per Leverkusen share, the companies announced on Tuesday.
This means that the DAX Covestro Group has a total value of €11.7 billion. Investors were happy but remained cautious.
Concrete takeover negotiations between Covestro and ADNOC have been ongoing since June 2024
Speculation about the purchase arose more than a year ago. In September 2023, Covestro announced that it was in talks with ADNOC, and concrete takeover negotiations have only been ongoing since June 2024.
Covestro has 17,500 full-time jobs, about 7,000 of which are in Germany. In addition to the headquarters in Leverkusen, there are large sites in Krefeld (Oerdingen), Dormagen (all in North Rhine-Westphalia) and Brunsbüttel (Scheswig-Holstein). There are large factories abroad near Houston (USA) and Shanghai (China). The group produces rigid and soft foams as well as rigid plastics for the automotive, construction, electronics and furniture industries.
Covestro is also currently included in the mood alarm in the Finanz100 apps. This stock is being hotly debated all over the world. For alerts and more information click here!
