XRG Acquires Covestro AG

ADNOC International Germany Holding AG, a wholly owned indirect subsidiary of XRG P.J.S.C. ("XRG"), completed the acquisition of Covestro AG. Covestro will accelerate XRG’s global position in the chemicals sector and support XRG to become one of the leading global chemicals investors. XRG will work in close partnership with Covestro’s management to unlock the company’s full long-term potential. As part of the transaction, XRG is investing €1.17 billion to strengthen Covestro’s balance sheet under the new ownership structure.

Source: XRG