Adnoc’s newly established international investment arm XRG (MEES, 20 December) announced on 19 December that following the expiry of the additional acceptance period, it will hold – subject to regulatory approval – approximately 91.32% in German chemicals firm Covestro. The firm is to become a key pillar of XRG’s Global Chemicals platform (MEES, 6 December). With Covestro operating in more than 20 countries, securing regulatory approvals will be a lengthy process, but the process is well underway and informed sources are confident that the process should proceed relatively smoothly, with completion set for 2H 2025 (MEES, 4 October).