Adnoc Weighs Takeover of $5 Billion Chemical Producer OCI.

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    • Subject Terms:
      MIDDLE East; ABU Dhabi (United Arab Emirates); AUSTRIA
    • Abstract:
      Abu Dhabi National Oil Co. (Adnoc) is considering a potential takeover of European chemical producer OCI NV as part of its efforts to diversify beyond crude oil. Adnoc and OCI have been in preliminary talks about a possible transaction, although no final decision has been made. OCI, backed by Egyptian billionaire Nassef Sawiris, has been exploring various options, including asset disposals, and may engage with other potential buyers. Adnoc is also in the process of finalizing a deal with Austria's OMV AG to create a petrochemical firm and is separately working on acquiring German chemicals group Covestro AG. [Extracted from the article]
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