The ADNOC deal is the largest acquisition in the company's history and one of the largest acquisitions of a European company by a Gulf state. This step is a key part of the ADNOC acquisition deal, valued at approximately 14.7 billion euros, which faced scrutiny from European Union regulators due to concerns about market disruption. However, it is now expected to be completed by the end of the year. German chemical company Covestro said in a regulatory filing: that ADNOC acquired a controlling stake of 95% in it.
