Home

Search History

Clear History

Hot Searches

Change

Subscribe eNews

Once A Week Once Every Two Weeks

Applications

Xinwancai Polymer Technology Co., Ltd. - Excellent Masterbatch Supplier and Manufacturer

Greiner Packaging wins two WorldStar 2026 Global Packaging Awards

BoReTech PET recycling technology receives positive EFSA scientific opinion

Products

Hosokawa Alpine presents smart solutions for blown film lines

Borealis invests EUR 49 million in Germany to scale up Nextension PP production

WITTMANN central material supply system reorganizes material handling in injection molding

Activities

Fakuma to celebrate 30th anniversary edition in October 2026
Italy pavilion at Plast Eurasia proves its rising presence in Turkish market
CHINAPLAS 2026: Grand stage for new material, smart manufacturing and green solutions

Pictorial

Webinars

Chinaplas2026 Pre-Show Preview Webinar Series (March-April)

[English] ST Webinar

[Mandarin] HUSKY Webinar

Conferences

7th Edition CHINAPLAS x CPRJ Plastics Recycling and Circular Economy Conference and Showcase

swop x CPRJ The Digital and Intelligent Carbon Reduction Revolution in Plastic Packaging — From Material Innovation to Circular Ecosystem

14th Edition CPRJ Plastics in Automotive Conference and Showcase

Industry Topic

ASEAN: The Next Manufacturing Hub

Innovative and Sustainable Packaging

Green Plastics: News & Insights

CHINAPLAS

CHINAPLAS 2025 Focus

CHINAPLAS 2024 Focus

CHINAPLAS 2023 Focus

Exhibition Topic

CHINA INSIGHT

K 2025 FOCUS

Fakuma 2024 Highlights

News Videos

Haitian South China Headquarters opening

BEILIJIA Double Walled Corrugated Pipe Plant

Magnetic mold changing system developed in-house by Shanghai Qiaotian

Conference Videos

【Mandarin session: Webinar playback】SACMI: Your Digitalized Manufacturing, Your Future Today

[Live Replay] LK Group: Smart Manufacturing, New Chapters in Southeast Asia: High-Efficiency Solutions in PET Preform & Thin-Wall Packaging

[Live Replay] Fu Chun Shin (FCS): Data-Driven Digital Rebirth and Intelligent Future of Injection Molding

Corporate/Product Videos

2025 Xinbaile Year-End Summary Conference‌。

Henan Hengfei - Pulse Mold Waterway Cleaning Machine

DR-24T Cap Compression Molding Machine

Exhibition

Playback TECHHUB 2025@CPRJ Live Streaming for CHINAPLAS

Playback TECHHUB@CPRJ Live Streaming for CHINAPLAS

Events

Playback On April 14, the "6th Edition CHINAPLAS x CPRJ Plastics Recycling and Circular Economy Conference and Showcase" at the Crowne Plaza Shenzhen Nanshan is currently being livestreamed!

Playback 5th Edition CHINAPLAS x CPRJ Plastics Recycling and Circular Economy Conference and Showcase

News

Events

SPE Asia

Special

Live

eNews

Essential Guide

Event Calendar

Survey

CHINA INSIGHT

Comment
(0)

Home > News > Corporate News

Covestro CONFIRMS to discuss with ADNOC on takeover proposal

Source：Adsale Plastics Network Date ：2023-09-11 Editor ：VC

Covestro AG has announced that its Board of Management had decided, in view of the interest in Covestro expressed by Abu Dhabi National Oil Company (ADNOC), to enter into open-ended discussions with ADNOC.

In June, media reported that ADNOC had approached Covestro with a takeover proposal worth more than 10 billion euros, but Covestro had rejected the initial proposal as the offer was too low.

“Whether, in which form and, if applicable, at which conditions an agreement between the parties will be reached is open and will depend on the course of the forthcoming discussions,” stated the German plastics and chemicals maker in the announcement.

Covestro has confirmed to enter into open-ended discussions with ADNOC on proposed takeover.

Sustainability remains core strategy

It was also emphasized that during the discussions, Covestro’s Board of Management will in particular also address the safeguarding of the further implementation of the company’s future- and sustainability-oriented corporate strategy, including corresponding corporate governance provisions.

Dr. Markus Steilemann, Chief Executive Officer of Covestro, said: “The interest of ADNOC in our company underlines our strong position as one of the world’s leading manufacturers of high-quality polymer materials and as a leader in the shift towards a circular economy. Beyond current headwinds in our industry, we are optimally positioned to unlock significant long-term value in highly attractive industries underpinned by strong secular growth trends.”

The CEO added: “Regardless of the talks with ADNOC, we will remain fully focused on pursuing our successful ‘Sustainable Future’ strategy in order to unfold our full potential and further drive the transformation towards the circular economy.”

Covestro presently does not intend to comment on this matter any further unless and until changed circumstances or events require publication by Covestro to comply with applicable disclosure rules.

Like 丨 {{details_info.likes_count}}

Acquisition

Covestro

The content you're trying to view is for members only. If you are currently a member, Please login to access this content. Login

Source：Adsale Plastics Network Date ：2023-09-11 Editor ：VC

In June, media reported that ADNOC had approached Covestro with a takeover proposal worth more than 10 billion euros, but Covestro had rejected the initial proposal as the offer was too low.

Covestro has confirmed to enter into open-ended discussions with ADNOC on proposed takeover.

Sustainability remains core strategy

Covestro presently does not intend to comment on this matter any further unless and until changed circumstances or events require publication by Covestro to comply with applicable disclosure rules.