Announcement
12 Aug 2025
In August 2025, the European Commission announced its initiation of an in-depth investigation into the acquisition by Abu Dhabi National Oil Company PJSC (ADNOC) of Covestro under the Foreign Subsidies Regulation (FSR). In November 2025, the Commission approved the transaction subject to binding commitments.
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Number of interventions
1
0 certainly harmful
1 likely harmful
0 liberalising
List of interventions
Implementation date
No implementation date
Revocation date:
No revocation date
Clarification: 14 Nov 2025
Instrument unclear
On 14 November 2025, the European Commission conditionally approved ADNOC's acquisition of Covestro. The Commission found that ADNOC and Covestro had received foreign subsidies from the UAE that we...
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