ADNOC is set to acquire Covestro for €14.7 billion to enhance its position in the petrochemical sector and capitalize on the growing demand for sustainable materials.

Information on the Target

Covestro AG, headquartered in Leverkusen, Germany, is a prominent global supplier of high-performance polymer materials. In 2024, the company reported sales amounting to €14.2 billion, a slight decline from the previous year due to decreased selling prices. Covestro operates 46 production facilities worldwide, producing polyurethanes and polycarbonates that are vital for industries including automotive, construction, and electronics. Since its separation from Bayer in 2015, Covestro has focused on sustainability, aspiring for climate neutrality and promoting the circular economy through innovative recycling technologies and the utilization of alternative raw materials.

With around 17,500 employees, Covestro is dedicated to blending advanced technology with sustainable practices. Under the leadership of CEO Markus Steilemann since 2018, Covestro aims to remain at the forefront of the polymer market while enhancing its environmental initiatives. The company’s current market capitalization stands at €11.1 billion, and its enterprise value is €14.8 billion.

Industry Overview in Germany

The chemical industry in Germany is one of the largest and most technologically advanced sectors in the global market, making significant contributions to economic growth and employment. In recent years, the industry has pivoted towards sustainability, with companies