The Abu Dhabi National Oil Company (ADNOC) announced on Friday the start of a public tender for the acquisition of a stake in the German chemical company Covestro...
According to the words of the ADNOC's main executive director, "This strategic agreement opens up opportunities for us to implement new technologies and strengthen our positions in the global chemical market."
ADNOC plans to acquire a controlling stake in Covestro, which specializes in the production of a wide range of chemical products, such as plastics and coatings.
Founded in 2005, ADNOC is one of the largest producers of oil and gas in the world. The acquisition of Covestro will help expand the company’s business and strengthen its positions in the global chemical market.
