Commission opens in-depth foreign subsidies investigation into ADNOC’s acquisition of Covestro

Source: EuroStat – European Statistics

European Commission Press release Brussels, 28 Jul 2025 The European Commission has opened an in-depth investigation to assess, under the Foreign Subsidies Regulation (‘FSR’), the acquisition by Abu Dhabi National Oil Company PJSC (‘ADNOC’) of Covestro. The Commission has preliminary concerns that foreign subsidies granted by the United Arab Emirates (‘UAE’) could distort the EU internal market.