Covestro AG has entered into an Investment Agreement with entities of ADNOC Group, effective until the end of 2028. Under this Agreement, the bidder will make a public takeover offer for all outstanding shares of Covestro at a price of €62.00 per share. Additionally, Covestro's Board has resolved to increase the company's share capital by 10% upon the completion of the takeover offer. Upon and subject to closing, new shares will be issued to the bidder at a price per share equal to the offer price, translating to €62.00 per share, totaling approximately €1.17 billion.
Covestro has expressed support for the bidder's announced takeover offer. The Board has also decided to withhold any dividend payments until the transaction is finalized.
