Adnoc Offers EU Remedies in €12 Billion Covestro Deal Probe (2)

Abu Dhabi National Oil Co. has offered a slate of concessions to address European Union concerns over its €12 billion ($14 billion) takeover of Covestro AG.

The European Commission confirmed it received remedies on Oct. 2, declining to elaborate on details of the offer. It added that despite the concessions being filed, the regulator hasn’t set a new deadline for a decision after it stopped the clock to request further details.

The package of commitments includes a pledge to maintain Covestro’s intellectual property in Europe as well as concessions on the company’s unlimited state guarantee from the UAE, according ...