The European Commission’s (EC) market testing of remedies provided by Abu Dhabi state firm XRG as part of its planned takeover of German chemicals firm Covestro appears to have gone off without a hitch.
XRG, the international investment arm of Adnoc, provided remedies to the EC as part of the foreign subsidies regulation (FSR) investigation into the deal (MEES, 10 October). The remedies were market tested with Covestro’s competitors, which had until the end of 13 October to respond with any concerns; MEES understands that no such concerns were filed. (CONTINUED - 271 WORDS)
