ABU DHABI, 21st November, 2025 (WAM) -- XRG, the international investment arm of ADNOC, today announced that it has received all final regulatory approvals for its acquisition of Covestro, one of the world’s leading producers of high-performance polymers and sustainable materials.
Headquartered in Leverkusen, Germany, and with a portfolio of over 10,000 specialty solutions, Covestro operates 46 production sites and 13 R&D centers worldwide, supporting sectors such as mobility, construction, electronics, and healthcare, industries central to the global economy and the energy transition.
Covestro’s materials are widely used in daily life and modern industry. Its lightweight polymers strengthen electric vehicles and wind-turbine blades; its high-performance films protect semiconductors and smartphones; and its specialised coatings make eyeglass lenses scratch-resistant and passports durable. From hospitals to homes, cars to data centers, Covestro’s advanced materials help make products safer, longer lasting, and more sustainable.
Through this acquisition, XRG expands its international footprint in advanced materials and accelerates its strategy to build a top three global chemicals platform.
Dr. Rainer Seele, President of Global Chemicals at XRG, said, “Securing these regulatory clearances allows us to move forward and focus on establishing a long-term, stable partnership with Covestro. This acquisition strengthens XRG’s international footprint in chemicals and supports our ambition to become a top three global investor in the sector. We have deep respect for Covestro’s people and expertise, and we look forward to working closely with its management team to realise the company’s full potential.”
Following completion of the transaction, expected in the coming days, Covestro will remain headquartered in Germany and continue to operate under its existing management. XRG will collaborate with Covestro’s management to identify further opportunities to enhance operational efficiency, strengthen resilience and capture long-term value as the company enters this next phase.