全球前三！化工“新”巨头诞生

Core Viewpoint - The acquisition of Covestro by XRG, valued at €12.87 billion (approximately ¥100.21 billion), marks a significant strategic partnership aimed at enhancing XRG's global positioning in the chemical industry, despite ongoing regulatory scrutiny from the EU [2][3]. Group 1: Acquisition Details - The acquisition involves a total value of €12.87 billion, which includes a €11.7 billion capital increase post-acquisition [2]. - The deal was initiated in October 2024 and has faced multiple regulatory challenges, including an EU antitrust investigation, with a final decision deadline set for December 2, 2025 [2][3]. Group 2: Strategic Implications for XRG - Post-acquisition, Covestro will serve as a foundational platform for XRG's high-performance materials and specialty chemicals business while maintaining its operational independence [3]. - The acquisition is expected to bolster XRG's goal of becoming one of the top three investors in the global chemical sector, leveraging Covestro's expertise in polyurethane and circular economy initiatives [3]. Group 3: Financial Performance of Covestro - Covestro has reported negative net profits for three consecutive years from 2022 to 2024, continuing into the first three quarters of 2025, indicating a challenging financial landscape prior to the acquisition [4]. - The acquisition is seen as a potential turnaround opportunity for Covestro, allowing it to provide better returns to shareholders by 2026 [4].