UAE oil giant ADNOC swoops on German chemicals firm Covestro

German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis. - Chemicals crisis - ADNOC's bid for Covestro comes while the challenges facing the Germany's energy-intensive chemicals industry show no signs of abating.

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