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Top related persons:
ADNOC - 2 Arne Rautenberg - 2 Covestro - 2 Victoria Farr - 2 Wolfgang Rattay - 1 Rautenberg - 1 Christian Baier - 1 Emma - 1
Top related locs:
Abu Dhabi Leverkusen Germany FRANKFURT Bengaluru Emma Frankfurt
Top related orgs:
Abu Dhabi National Oil Co - 2 Union Investment - 2 Thomson - 2 REUTERS - 1 Rights - 1 Abu - 1 Covestro - 1 Bloomberg - 1

Search resuls for: "Arne Rautenberg"


3 mentions found


☆ Covestro investors press company to enter talks with ADNOC
  + stars: | 2023-08-24 | by ( Emma-Victoria Farr | Thomson Reuters | Emma-Victoria Reports On Mergers | ) www.reuters.com   time to read: +3 min
The logo of German chemicals maker Covestro is pictured outside its headquarters in Leverkusen, Germany, July 26, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsFRANKFURT, Aug 24 (Reuters) - Germany's Covestro (1COV.DE) should engage in formal takeover talks with Abu Dhabi National Oil Co (ADNOC) in the interest of its shareholders, two top-15 investors of the plastics and chemicals maker told Reuters. ADNOC, which is trying to diversify and develop its downstream and renewable energy operations, made a non-binding offer for Covestro of 55 euros per share in June, which was rejected, according to press reports. Rautenberg declined to comment on the price at which he would recommend Covestro accept an offer. Covestro this week appointed Christian Baier as chief financial officer, with Rautenberg noting his past dealmaking experience at private equity firm Permira.
Persons: Wolfgang Rattay, ADNOC, Arne Rautenberg, Covestro, Rautenberg, Christian Baier, Emma, Victoria Farr, Elisa Martinuzzi, Kirsten Donovan Organizations: REUTERS, Rights, Abu, Abu Dhabi National Oil Co, Reuters, Union Investment, Thomson Locations: Leverkusen, Germany, Abu Dhabi
☆ Germany's Covestro rejects takeover proposal from ADNOC -Bloomberg News
  + stars: | 2023-06-22 | by ( ) www.reuters.com   time to read: +1 min
FRANKFURT, June 22 (Reuters) - German plastics and chemicals maker Covestro AG (1COV.DE) has rejected an initial takeover proposal from Abu Dhabi National Oil Co (ADNOC) saying the offer was too low, Bloomberg News reported on Thursday citing people familiar with the matter. The stock jumped as much as 3.7% after the report was published, after trading down earlier in the day. Two people familiar with the matter told Reuters on Tuesday that ADNOC had approached Covestro with a takeover proposal worth more than 10 billion euros ($11.00 billion). It would probably only be a matter of price whether the existing shareholders would accept such a takeover offer," Arne Rautenberg, fund manager at Union Investment, told Reuters. Covestro, a maker of transparent polycarbonate plastics, as well as chemicals for insulation and upholstery foams, in April issued earnings guidance that reassured markets about its growth prospects.
Persons: ADNOC, Covestro, Arne Rautenberg, Gursimran Kaur, Victoria Farr, Jason Neely, Conor Humphries Organizations: Covestro, Abu Dhabi National Oil Co, Bloomberg, Reuters, Union Investment, Thomson Locations: FRANKFURT, Abu Dhabi, Bengaluru, Emma, Frankfurt
☆ BASF shareholders say Russia exit sets up oil and gas IPO
  + stars: | 2023-01-19 | by ( Patricia Weiss Ludwig Burger | Patricia Weiss | Ludwig Burger | ) www.reuters.com   time to read: +3 min
BERLIN/FRANKFURT, Jan 19 (Reuters) - BASF (BASFn.DE) investors said that oil and gas business Wintershall Dea's exit from Russia, though painful, clears the way for plans to take it public and for BASF to focus on its chemicals operations. Portfolio manager Arne Rautenberg of mutual fund company Union Investment, among the 10 largest BASF shareholders, welcomed BASF drawing a line. "This step will facilitate an IPO of Wintershall Dea," said Cornelia Zimmermann, a corporate governance specialist at mutual fund group Deka Investment. BASF said last year that the oil and gas company's exposure in Russia was the reason for it to hold off on plans to take Wintershall Dea public. Before the Ukraine war, Russia had accounted for roughly half of WD's global oil and gas output.
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