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ADNOC's €14.7B Game-Changer Deal!
Abu Dhabi's state-owned ADNOC is set to acquire German chemicals firm Covestro for €14.7 billion ($16.4 billion). This deal aligns with ADNOC's strategy to become a top-five global chemicals player. Covestro’s expertise in specialty chemicals and advanced technologies like AI makes this acquisition key for ADNOC’s international growth. The deal also includes a €1.17 billion investment in new shares to support Covestro’s expansion. Covestro’s CEO called the deal 'unprecedented' and a major milestone for both companies.
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#ADNOC, #Covestro, #Acquisition, #ChemicalsIndustry, #BusinessNews, #GlobalEconomy, #Investments, #AI, #Technology, #InternationalBusiness, #MergersAndAcquisitions, #Finance, #Economy, #MiddleEast, #Germany, #CorporateStrategy, #Growth, #Sustainability, #Innovation, #WealthyBusiness
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