(RTTNews) - Covestro AG has signed with entities of ADNOC Group an Investment Agreement with a term until end of 2028. The Agreement stipulates that the bidder will make a public takeover offer for all outstanding shares of Covestro at a price of 62.00 euros per share. Also, the Board of Covestro decided that the company's share capital shall be increased by 10% upon completion of the takeover offer. At and subject to closing, the new shares shall be issued to the Bidder against payment of a price per share equal to the offer price, based on an offer price of 62.00 euros against a total amount of 1.17 billion euros.
Covestro supported the Bidder's announced takeover offer. The Board has decided to not propose a dividend payment until the transaction has been completed.
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