The European Commission is expected to approve ADNOC’s $17 billion takeover of Covestro, the German advanced materials giant.

The European Commission is expected to approve ADNOC’s $17 billion takeover of Covestro, the German advanced materials giant. With minor competition tweaks, the deal — one of the largest-ever Gulf acquisitions of a European company — will give ADNOC a major foothold in the global chemicals sector. It’s part of the UAE’s wider diversification push, expanding energy expertise into downstream industries and sustainable manufacturing.