Adnoc Covestro takeover, Bayanat + Yahsat merger made headlines

More takes on Adnoc’s Covestro takeover: Bloomberg spoke with Abu Dhabi National Oil Company’s (Adnoc) head of downstream business, Khaled Salmeen, about Adnoc’s public takeover offer to acquire German chemicals company Covestro for EUR 14.7 bn (c. USD 16.3 bn). The state-run oil firm sees the transaction — Adnoc’s biggest yet, and the biggest for a Middle OEast firm in Europe — as a strategic long-term investment, Salmeen says, explaining why the acquisition came with a hefty price tag.

“We don’t think in quarters, we think in years and decades,” Salmeen said, adding that the company is a “growth platform” for Adnoc with strong fundamentals.

The acquisition also got ink at Reuters.

ALSO- Bayanat and Al Yah Satellite Communications (Yahsat)’s completed merger stood center in a CNBC interview (watch, runtime: 02:02) with the new entity’s managing director Karim Michel Sabbagh. Space42 plans to now direct focus to “hyperscaling” regionally and globally while looking to “fuse” space technologies with AI, after debuting on the ADX on Wednesday, Sabbagh said.