Abu Dhabi, United Arab Emirates, Mar 23: XRG P.J.S.C. has formally initiated a squeeze-out process for minority shareholders of Covestro AG, in accordance with Article 17 of Regulation (EU) No. 596/2014.
XRG submitted a request to Covestro AG’s Board of Management under Section 327a of the German Stock Corporation Act (Aktiengesetz), seeking to convene a general meeting to approve the transfer of shares held by remaining minority shareholders. The transfer will be executed in exchange for a cash compensation set at EUR 59.46 per share.
The company stated that it currently holds 95.1% of Covestro AG’s share capital, directly and through its wholly owned indirect subsidiary ADNOC International Germany Holding AG. This positions XRG as the majority shareholder as defined under German corporate law.
The proposed compensation amount has been determined based on an independent valuation conducted by PricewaterhouseCoopers GmbH.
The squeeze-out will only become legally effective once the corresponding transfer resolution is approved and entered into Covestro AG’s commercial register. The resolution is expected to be presented for shareholder approval at the company’s Annual General Meeting scheduled for 19 May 2026. Further details regarding the meeting will be announced separately.
This move marks a significant step toward full ownership consolidation by XRG, streamlining Covestro AG’s shareholder structure.
