Comment: For Covestro deal, ADNOC should study EU foreign-subsidy troubles that e&-PPF had
By Tono Gil and Andrew Boyce ( October 4, 2024, 14:16 GMT | Comment) -- Efforts by the Abu Dhabi National Oil Company to complete its buyout of Germany’s Covestro will undoubtedly include a close study of the remedies that Emirates Telecommunications Group recently offered to win EU foreign-subsidy approval for its latest deal. ADNOC will likely run into some similar obstacles in the Foreign Subsidies Regulation review of its takeover of Covestro. But the German chemical maker is a company in need of investment, and it might not give up immediate access to ADNOC’s cash flow so easily.Efforts by the Abu Dhabi National Oil Company to complete its buyout of Germany’s Covestro will undoubtedly include a close study of the remedies that Emirates Telecommunications Group recently offered to win EU foreign-subsidy approval for its latest deal....
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