E.U. launches probe into Adnoc's $13.7B Covestro acquisition over subsidies

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Covestro buildings and plant, Antwerpen, Belgium

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The European Commission said Monday it is launching an in-depth investigation into Abu Dhabi National Oil Co.'s €11.7B (~$13.75B) acquisition of Covestro (OTCPK:CVVTF) (OTCPK:COVTY) under the European Union's tough new foreign subsidy rules.

The Commission said it will investigate concerns

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