Covestro AG and XRG P.J.S.C. received the final outstanding regulatory approval from the German Federal Ministry for Economic Affairs and Energy under foreign investment rules for their strategic partnership. Thereby, all closing conditions of the transaction are fulfilled. The closing is expected to take place in the coming days.
With this milestone, Covestro and XRG will embark on their joint journey to redefine the chemical industry through innovation, circularity, driving digital transformation and strengthening the pioneering role in high-growth sectors. The partnership is built on a shared commitment to addressing powerful megatrends and shaping industries and societies worldwide. By combining XRG's strength and global reach with Covestro's expertise in advanced technologies and circular solutions, the two companies aim to unlock opportunities and deliver long-term value for all stakeholders.
Upon closing, Covestro's ongoing transformation will be further supported by a EUR 1.17 billion capital increase, which will enable the timely execution of strategic investment plans and further execution of its 'Sustainable Future' strategy.
