EUR 1.17 Billion Capital Increase Completed, Marking New Phase of Collaboration
Covestro AG has officially completed the closing of its strategic partnership with XRG P.J.S.C. (formerly ADNOC International Limited), signaling the beginning of a long-term collaboration aimed at accelerating Covestro’s global transformation initiatives. As part of the agreement, a EUR 1.17 billion capital increase has been executed as planned, providing Covestro with strengthened financial resources to advance its “Sustainable Future” strategy, expand innovation efforts, and support long-term growth.
Dr. Markus Steilemann, CEO of Covestro, commented:
“Today’s closing marks the start of our joint journey with XRG. With XRG as a strong, forward-looking partner, we are well positioned to accelerate Covestro’s transformation and generate sustainable value for our customers, employees, and stakeholders around the world.”
With all regulatory approvals and underlying agreements in place, the successful closing formalizes the partnership and enables both companies to move forward with integrated planning, operational alignment, and strategic execution.
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