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ADNOC is headed by Sultan Al Jaber, who chaired the UN’s COP28 climate talks in Dubai last year – Copyright AFP/File Philippe LOPEZ
Chemical maker Covestro said Monday that it entered “concrete negotiations” with Emirati national energy firm ADNOC after the German group received a takeover offer worth nearly 12 billion euros ($12.8 billion).
Covestro’s shares surged more than six percent in Frankfurt following the announcement, which comes after it first disclosed talks were ongoing with the UAE firm in September last year.
“The discussions so far have shown that Covestro and ADNOC…
