- German Foreign Financial investment Control approval got
- All closing conditions satisfied: deal anticipated to close in the coming days
- Collaboration marks a brand-new chapter of close cooperation with concentrate on disciplined, long-lasting value-creation
- Covestro ready to take its ‘Sustainable Future’ method to the next level and to more enhance its pioneering function in the market
LEVERKUSEN, Germany, Nov. 21, 2025/ PRNewswire/– Covestro AG and XRG P.J.S.C. (previously ADNOC International Limited, together with its subsidiaries in the following “XRG”) got the last exceptional regulative approval from the German Federal Ministry for Economic Affairs and Energy under foreign financial investment guidelines for their tactical collaboration. Therefore, all closing conditions of the deal are satisfied. The closing is anticipated to happen in the coming days. With this turning point, Covestro and XRG will start their joint journey to redefine the chemical market through development, circularity, driving digital change and enhancing the pioneering function in high-growth sectors.
” This is an amazing brand-new chapter for Covestro,” stated Dr. Markus Steilemann, CEO of Covestro. “With XRG as a strong and long-term-oriented partner, we will drive development and digital change, scale circular options, and set brand-new requirements in the chemical market. Together, we are well-positioned to take our ‘Sustainable Future’ method to the next level. Our collaboration shows not just shared objectives and aspirations for an effective future and a brand-new chemical period, however likewise shared advantages and chances for both Covestro and XRG in addition to for our consumers, providers, workers and all other stakeholders.”
Dr. Rainer Seele, President of Global Chemicals at XRG, stated: “Protecting these regulative clearances permits us to move on and concentrate on developing a long-lasting, steady collaboration with Covestro. This acquisition enhances XRG’s global footprint in chemicals and supports our aspiration to end up being a leading 3 international financier in the sector. We have deep regard for Covestro’s individuals and proficiency, and we eagerly anticipate working carefully with its management group to understand the business’s complete capacity.”
Supporting Covestro’s ‘Sustainable Future’ Method
The collaboration is constructed on a shared dedication to resolving effective megatrends and forming markets and societies worldwide. By integrating XRG’s strength and international reach with Covestro’s proficiency in sophisticated innovations and circular options, the 2 business intend to open chances and provide long-lasting worth for all stakeholders. Upon closing, Covestro’s continuous change will be more supported by a EUR 1.17 billion capital boost, which will allow the prompt execution of tactical financial investment strategies and more execution of its ‘Sustainable Future’ method.
With XRG as long-lasting focused investor, Covestro will continue its journey concentrating on scaling its circular economy aspirations, driving digital change through sophisticated innovations such as AI and quantum computing, and enhancing its activities in high-growth sectors like movement, building, and electronic devices. XRG’s proficiency in energy shift will match Covestro’s sustainability objectives, offering access to cleaner energy options and boosting strength in a quickly altering international landscape.
A Strong Structure for Long-Term Development and Connection
Crucial element of the concurred tactical collaboration consist of, inter alia, that Covestro, an international leader in premium polymer products, will serve as the fundamental platform for XRG’s Efficiency Products and Specialized Chemicals service. In accordance with the regards to the Financial investment Arrangement, Covestro will keep its autonomy, with its Board of Management, led by CEO Dr. Markus Steilemann, continuing to manage functional management and tactical instructions. XRG will team up with Covestro’s management to recognize more chances to boost functional performance, enhance strength and capture long-lasting worth as the business enters this next stage. Likewise, in accordance with the regards to the Financial investment Arrangement, upon closing, Covestro preserves its business structure, German business governance requirements and existing basic works contracts together with its authorized head office in Leverkusen.
About XRG:
XRG is a global investment firm with a business worth of $ 150 billion, investing throughout gas, chemicals and scalable energy options that power AI and market internationally. Headquartered in Abu Dhabi and entirely owned by ADNOC, XRG’s portfolio consists of operating and non-operating interests in properties and business that are satisfying the quickly increasing international need for energy and the chemicals that are necessary for sustainable financial development.
To learn more, check out: www.XRG.com
For media queries, please contact: media@XRG.com
About Covestro:
Covestro is among the world’s leading makers of premium polymer products and their parts. With its ingenious items, procedures and techniques, the business assists boost sustainability and the lifestyle in numerous locations. Covestro provides consumers around the globe in crucial markets such as movement, structure and living, in addition to the electrical and electronic devices sector. In addition, polymers from Covestro are likewise utilized in sectors such as sports and leisure, telecoms and health, in addition to in the chemical market itself.
The business is tailored totally to the circular economy. In addition, Covestro intends to attain environment neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are likewise set to be environment neutral by 2050. Covestro created sales of EUR 14.2 billion in 2024. At the end of 2024, the business had 46 production websites around the world and utilized around 17,500 individuals (determined as full-time equivalents).
You can discover more details on the Covestro homepage.
Please likewise read our Business Blog site.
For media queries, please contact: Lars Boelke at Lars.Boelke@covestro.com
Positive declarations
This press release might include positive declarations based upon present presumptions and projections made by Covestro AG. Numerous recognized and unidentified dangers, unpredictabilities and other elements might result in product distinctions in between the real future outcomes, monetary scenario, advancement or efficiency of the business and the price quotes offered here. These elements consist of those talked about in Covestro’s public reports which are readily available at www.covestro.com. The business presumes no liability whatsoever to upgrade these positive declarations or to adhere them to future occasions or advancements.
SOURCE COVESTRO LLC