XRG P.J.S.C. Initiates Squeeze-Out Process for Covestro AG Shares

XRG P.J.S.C. has initiated a squeeze-out process to acquire shares held by minority shareholders of Covestro AG. The majority shareholder, XRG P.J.S.C, alongside its subsidiary ADNOC International Germany Holding AG, holds approximately 95.10% of Covestro AG's share capital. This action aims to transfer remaining shares from minority shareholders to XRG P.J.S.C, offering them fair cash compensation as per German Stock Corporation Act requirements.

The effectiveness of this process depends on approval from Covestro AG's general meeting and the subsequent registration with the commercial register. The cash compensation amount for minority shareholders is yet to be determined and will be announced in due course.