Regulatory Approval and Transaction Closure
Covestro AG and XRG P.J.S.C. have received the final regulatory approval from the German Federal Ministry for Economic Affairs and Energy, fulfilling all conditions for their strategic partnership. The transaction is expected to close in the coming days.
Strategic Focus and Investment
The partnership aims to drive innovation, circularity, and digital transformation in the chemical industry. Covestro's ongoing transformation will be supported by a EUR 1.17 billion capital increase, enabling strategic investment plans and further execution of its 'Sustainable Future' strategy.
Operational Autonomy and Collaboration
Covestro will retain its autonomy, with its Board of Management continuing to oversee operations and strategic direction. XRG will collaborate with Covestro's management to enhance operational efficiency and capture long-term value.
Future Growth and Sector Focus
Covestro will focus on scaling its circular economy ambitions, driving digital transformation through advanced technologies, and strengthening activities in high-growth sectors like mobility, construction, and electronics. XRG's expertise in energy transition will complement Covestro's sustainability goals.
