There had been speculation about this for a long time, but now it’s getting serious: Covestro is about to be taken over by an Arab company.
As has long been expected, the state oil company Adnoc from the United Arab Emirates wants to take over the German plastics company Covestro. The Arabs are offering 62 euros per Leverkusen share, as the companies announced on Tuesday. This means that the Dax group Covestro is valued at a total of 11.7 billion euros.
Covestro has 17,500 full-time positions, around 7,000 of which are in Germany. In addition to the headquarters in Leverkusen, there are large locations in Krefeld (Uerdingen), Dormagen (all NRW) and Brunsbüttel (Schleswig-Holstein). There are large factories abroad near Houston (USA) and in Shanghai (China). The group produces rigid and soft foams as well as hard plastics for the automotive, construction, electronics and furniture industries.
Speculation about a purchase arose in mid-2023. In September 2023, Covestro announced that it was talking to Adnoc – concrete takeover negotiations with the Abu Dhabi group have only been ongoing since June 2024. The minimum acceptance rate is now 50 percent plus one share. According to the information, Covestro supports the offer.
Source: Stern
