LEVERKUSEN (dpa-AFX) - The IG BCE trade union is insisting on job security in talks between the chemicals group Covestro and a possible takeover by the Abu Dhabi National Oil (Adnoc) group.

"For Covestro's employee representatives and IG BCE, it is crucial that the group is now made sustainably fit for the future. This applies above all to sites and employment," an IGBCE spokesman told the Rheinische Post newspaper (Monday). Covestro, which has group sales of 18 billion euros (2022), employs 18,000 people worldwide, more than 7800 of whom work in Germany.

On Friday, Covestro had decided to start negotiations with Arab investor Adnoc. Most recently, there was talk in the media that the Arabs had informally held out the prospect of 60 euros per share, which corresponds to a value of 11.6 billion euros. Speculation about interest from Adnoc has been rife since mid-June. Adnoc has been expanding its involvement around the chemicals business for some time. The group claims almost all the oil for the United Arab Emirates. It has investment plans of $150 billion (140 billion euros) to expand its natural gas, chemicals and clean energy businesses worldwide./mis/nas/DP/he