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ADNOC-Covestro deal needs 'multitude' of filings, including EU foreign-subsidy approval

By Andrew Boyce ( October 1, 2024, 12:56 GMT | Insight) -- Abu Dhabi’s state-owned oil company will need a “multitude” of regulatory approvals before it can complete its takeover of Covestro, according to the German chemicals group’s chief financial officer. Christian Baier said that would include merger approvals in the EU, US and China, foreign direct investment screening, and clearance under the EU’s Foreign Subsidies Regulation.Abu Dhabi’s state-owned oil company will need a “multitude” of regulatory approvals before it can complete its takeover of Covestro, according to the German chemicals group’s chief financial officer....

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