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ADNOC's XRG Secures Majority Stake In Covestro With €14.7 Billion Acquisition
(MENAFN- The Arabian Post) XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), has achieved a significant milestone by securing a 91.32% stake in Covestro AG, a leading German polymer materials manufacturer. This development follows the acceptance of XRG's takeover offer by Covestro's shareholders, marking ADNOC's largest acquisition to date, valued at €14.7 billion, including debt. The transaction, which positions XRG as the new majority shareholder of Covestro, [...]">
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