Adnoc has requested that Covestro’s current management team continue to lead the company post-acquisition. Covestro’s board has expressed its support for the deal and will recommend shareholders accept the offer.
Adnoc to acquire Covestro : Advisers on the Deal
A group of top financial and legal advisers is overseeing the transaction. Morgan Stanley is serving as Adnoc’s financial adviser, while Covestro’s board of management is receiving guidance from Goldman Sachs and Perella Weinberg Partners. Rothschild & Co. and Macquarie Capital are advising Covestro’s supervisory board.
Although no specific timeline has been provided, both companies are optimistic about the deal’s completion, pending regulatory and shareholder approvals.
