The sources stated that ADNOC is close to finishing the Covestro due diligence process and has not discovered any warning signs.
At that, the Middle Eastern company must still obtain authorization from regulators for the transaction, which is set to be the biggest in its past. The agency’s sources pointed out that it might require a number of weeks.
ADNOC started official talks with Covestro in June, proposing a price of 62 euros per share for the German company.
source: bloomberg.com
