After lengthy negotiations, an agreement has been reached: the United Arab Emirates state-owned oil and gas group ADNOC (Abu Dhabi National Oil Company) will acquire Covestro. The agreement was announced in a press release by the German chemical group. According to the signed investment agreement, ADNOC will make a takeover bid for Covestro at a price of EUR 63 per share, with an expected purchase price of almost EUR 12 billion. Covestro is positive about the agreement reached: it is in the interest of Covestro, its employees, shareholders and all other parties involved. The Executive Board and the Supervisory Board also support the agreement.