CCI approves ADNOC's acquisition of Covestro AG
On 10 December 2024, in India, the Competition Commission of India announced its approval of the acquisition of Covestro AG by Abu Dhabi National Oil Company (ADNOC).
Summary
On 10 December 2024, in India, the Competition Commission of India (CCI) announced its approval of the acquisition of up to 100% of the share capital of Covestro AG by Abu Dhabi National Oil Company (ADNOC) group entities through a public takeover, along with a subscription of 18,900,000 new Covestro shares (10% of current share capital) by ADNOC Germany after closing.
Key facts
- Announced
- 10 Dec 2024
- Regulator
- Competition Commission of India
- Acquirer
- ADNOC
- Target
- Covestro AG (up to 100%)
Practice MCQs 1 questions
The Competition Commission of India announced on 10 December 2024 its approval of the acquisition of Covestro AG by which company?
Show answer
Correct answer: A — Abu Dhabi National Oil Company (ADNOC)
PIB (10 Dec 2024): CCI approves acquisition of Covestro AG by Abu Dhabi National Oil Company.