{"id":571937,"date":"2025-11-15T11:49:21","date_gmt":"2025-11-15T11:49:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/571937\/"},"modified":"2025-11-15T11:49:21","modified_gmt":"2025-11-15T11:49:21","slug":"adnoc-buy-of-covestro-wins-conditional-eu-approval","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/571937\/","title":{"rendered":"Adnoc Buy of Covestro Wins Conditional EU Approval"},"content":{"rendered":"<p>Abu Dhabi National Oil Co. won conditional European Union approval for its EUR 12 billion ($13.9 billion) takeover of Covestro AG after it dealt with EU concerns that its state subsidies could stifle competition.\u00a0<\/p>\n<p>The European Commission said Friday that an offer from Adnoc to maintain Covestro&#8217;s intellectual property in Europe as well as concessions on the company&#8217;s unlimited state guarantee from the UAE settled its earlier fears. Those commitments are valid for 10 years.<\/p>\n<p>&#8220;Commitments offered by Adnoc effectively address the potential negative effects by allowing market participants to access key Covestro patents in the field of sustainability,&#8221;\u00a0EU competition chief Teresa Ribera said in a statement. &#8220;Clear, pre-defined access to these patents will enable others to innovate and advance research in an area that is critical for Europe&#8217;s future.&#8221;<\/p>\n<p>The planned purchase of Covestro would give Adnoc &#8211;\u00a0the biggest oil producer in the United Arab Emirates &#8211;\u00a0control over a German company that supplies materials for some of the world&#8217;s most prominent phone and carmakers. Adnoc would own Covestro through its investment unit XRG, set up in last year as the company&#8217;s international platform for natural gas, chemicals and energy solutions.<\/p>\n<p>In July, the commission, the EU&#8217;s antitrust arm, opened a full-scale investigation into the deal under tough new foreign subsidies rules. These are aimed at preventing sovereign states from using their financial muscle to crush competition in the 27-nation bloc. EU officials warned at the time that Adnoc&#8217;s state funding may give it an unfair advantage over rivals with less-deep pockets.<\/p>\n<p>                                <br class=\"clear\"\/><\/p>\n<p>&#13;<br \/>\n                                    Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.&#13;\n                                <\/p>\n<p>                    element<br \/>\n\t\t\t\tvar scriptTag = document.createElement(&#8216;script&#8217;);<br \/>\n\t\t\t\tscriptTag.src = url;<br \/>\n\t\t\t\tscriptTag.async = true;<br \/>\n\t\t\t\tscriptTag.onload = implementationCode;<br \/>\n\t\t\t\tscriptTag.onreadystatechange = implementationCode;<br \/>\n\t\t\t\tlocation.appendChild(scriptTag);<br \/>\n\t\t\t};<br \/>\n            var div = document.getElementById(&#8216;rigzonelogo&#8217;);<br \/>\n            div.innerHTML += &#8216;<a href=\"https:\/\/www.rigzone.com\/\" target=\"_blank\" rel=\"noopener\">&#8216; +<br \/>\n                &#8216;<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.rigzone.com\/oil\/Areas\/localimg\/logo02_fullcolor.svg\" alt=\"RIGZONE Empowering People in Oil and Gas\" width=\"250\" height=\"60\">&#8216; +<br \/>\n                &#8216;<\/a>&#8216;;<\/p>\n<p>\t\t\tvar initJobSearch = function () {<br \/>\n\t\t\t\t\/\/console.log(&#8220;call back&#8221;);<br \/>\n\t\t\t}<\/p>\n<p>\t\t\tvar addMetaPixel = function () {<br \/>\n                if (-1 > -1 || -1 > -1) {<br \/>\n                        \/*Meta Pixel Code*\/<br \/>\n                        !function(f,b,e,v,n,t,s)<br \/>\n                        {if(f.fbq)return;n=f.fbq=function(){n.callMethod?<br \/>\n                        n.callMethod.apply(n,arguments):n.queue.push(arguments)};<br \/>\n                        if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=&#8217;2.0&#8242;;<br \/>\n                        n.queue=[];t=b.createElement(e);t.async=!0;<br \/>\n                        t.src=v;s=b.getElementsByTagName(e)[0];<br \/>\n                        s.parentNode.insertBefore(t,s)}(window, document,&#8217;script&#8217;,<br \/>\n                        &#8216;https:\/\/connect.facebook.net\/en_US\/fbevents.js&#8217;);<br \/>\n                        fbq(&#8216;init&#8217;, &#8216;1517407191885185&#8217;);<br \/>\n                        fbq(&#8216;track&#8217;, &#8216;PageView&#8217;);<\/p>\n<p>                        \/*End Meta Pixel Code*\/<br \/>\n                } else if (0 > -1 &#038;&#038; 81 > -1)<br \/>\n           {<br \/>\n\t                \/*Meta Pixel Code*\/<br \/>\n                    !function(f,b,e,v,n,t,s)<br \/>\n                    {if(f.fbq)return;n=f.fbq=function(){n.callMethod?<br \/>\n                    n.callMethod.apply(n,arguments):n.queue.push(arguments)};<br \/>\n                    if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=&#8217;2.0&#8242;;<br \/>\n                    n.queue=[];t=b.createElement(e);t.async=!0;<br \/>\n                    t.src=v;s=b.getElementsByTagName(e)[0];<br \/>\n                    s.parentNode.insertBefore(t,s)}(window, document,&#8217;script&#8217;,<br \/>\n                    &#8216;https:\/\/connect.facebook.net\/en_US\/fbevents.js&#8217;);<br \/>\n                    fbq(&#8216;init&#8217;, &#8216;1517407191885185&#8217;);<br \/>\n                    fbq(&#8216;track&#8217;, &#8216;PageView&#8217;);<br \/>\n                    \/*End Meta Pixel Code*\/<br \/>\n\t        }<br \/>\n            }<\/p>\n<p>   \/\/         function gtmFunctionForLayout()<br \/>\n   \/\/         {<br \/>\n        \/\/loadJS(&#8220;https:\/\/www.googletagmanager.com\/gtag\/js?id=G-K6ZDLWV6VX&#8221;, initJobSearch, document.body);<br \/>\n\t\t\t\/\/}<\/p>\n<p>   \/\/         window.onload = (e => {<br \/>\n   \/\/             setTimeout(<br \/>\n   \/\/                 function () {<br \/>\n   \/\/                     document.addEventListener(&#8220;DOMContentLoaded&#8221;, function () {<br \/>\n   \/\/                         \/\/ Select all anchor elements with class &#8216;ui-tabs-anchor&#8217;<br \/>\n   \/\/                         const anchors = document.querySelectorAll(&#8216;a .ui-tabs-anchor&#8217;);<\/p>\n<p>   \/\/                         \/\/ Loop through each anchor and remove the role attribute if it is set to &#8220;presentation&#8221;<br \/>\n   \/\/                         anchors.forEach(anchor => {<br \/>\n   \/\/                             if (anchor.getAttribute(&#8216;role&#8217;) === &#8216;presentation&#8217;) {<br \/>\n   \/\/                                 anchor.removeAttribute(&#8216;role&#8217;);<br \/>\n   \/\/                             }<br \/>\n   \/\/                         });<br \/>\n   \/\/                     });<br \/>\n\t\t\t\/\/\t\t}<br \/>\n\t\t\t\/\/\t\t, 200);<br \/>\n\t\t\t\/\/});<\/p>\n","protected":false},"excerpt":{"rendered":"Abu Dhabi National Oil Co. won conditional European Union approval for its EUR 12 billion ($13.9 billion) takeover&hellip;\n","protected":false},"author":2,"featured_media":571938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[2000,299,5187,1699,17726],"class_list":{"0":"post-571937","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-eu","9":"tag-europe","10":"tag-european","11":"tag-european-union","12":"tag-oil-and-gas-petroleum-news-events-stories-articles-analysis-commentary-headlines-stocks-finance-commodities-maps-pictures"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115553566894515544","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/571937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=571937"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/571937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/571938"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=571937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=571937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=571937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}