Covestro and XRG commence strategic partnership, secures EUR 1.17 billion capital boost
Last update on Dec 12, 2025
Covestro AG announced the successful closing of its strategic partnership with XRG P.J.S.C. (formerly ADNOC International Limited, together with its subsidiaries in the following “XRG”).
New resources support Covestro’s “Sustainable Future” strategy
The agreed capital increase of EUR 1.17 billion was carried out as planned, providing Covestro with additional resources to support the implementation of its “Sustainable Future” strategy.
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Dr. Markus Steilemann, CEO of Covestro, said, “With today’s closing of the transaction, we can now begin our joint journey with XRG. Together with XRG as a strong and long-term partner, we are well positioned to drive Covestro’s transformation and create long-term value for our customers, employees, and stakeholders worldwide.”
The closing of the transaction marks the official start of the partnership, building on all underlying agreements and prior regulatory clearances.
To know about previous announcements by Covestro-XRG partnership, check this out!