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# 🍃 ADNOC Acquires Covestro For $12.92B. $130M+ VC Funding.
- URL: https://newsletters.qs.com/adnoc-acquires-covestro-for-12-92b-130m-vc-funding/
- Published: 2024-10-04T11:30:42.000Z
- Updated: 2024-10-04T11:30:41.000Z
- Description: Daily Impact Deals #195 looks at major deals and M&A in impact industries and upcoming economic releases.
- Author: QS
- Tags: Deals

[**Zdravo**](https://en.wikipedia.org/wiki/Slovene%5Flanguage?ref=newsletters.qs.com)🍷

📈 **Today's Global Economic Update:** Job openings [increased by 329K to 8.04M in August 2024](https://www.bls.gov/?ref=newsletters.qs.com), surpassing expectations, with notable gains in construction (+138,000) and state and local government (+78,000). Meanwhile, job quits fell to 3.084M, the lowest since August 2020.

🌿 **Deal of the Day:** ADNOC International, signed a definitive agreement to [acquire](https://www.offshore-technology.com/news/adnoc-to-buy-covestro/?ref=newsletters.qs.com) German chemical manufacturer Covestro for $12.92B.

**What's New?** 
**🌍 Climate.** Chemical manufacturing & sustainable metal manufacturing  
**💻 Technology.** Augmented AI  
📅 **Economics.** US inflation, UK GDP, balance of trade data + more

## **🌍** Climate

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🍃 **ADNOC**, through its subsidiary ADNOC International, signed a definitive agreement to [acquire](https://www.offshore-technology.com/news/adnoc-to-buy-covestro/?ref=newsletters.qs.com) Covestro, a German sustainable materials company for $12.93B.

**🧪 Mstack Chemicals**, a Houston-based specialty chemical manufacturing platform, raised a [$40M Series A](https://www.finsmes.com/2024/10/mstack-chemicals-raises-40m-in-series-a-funding.html?ref=newsletters.qs.com) from Lightspeed and Alpha Wave to expand its geographic presence.

**♻️ Sun Metalon,** a Japanese-American startup, raised a [$21M Series A](https://www.citybiz.co/article/608883/sun-metalon-secures-21-million-in-series-a-funding/?ref=newsletters.qs.com) to accelerate the circular economy in metal manufacturing and 3D printing industries.

## **💻** Technology

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**🤖 Crescendo**, a California-based augmented AI customer experience provider, raised [$50M](https://www.finsmes.com/2024/10/crescendo-raises-50m-in-funding.html?ref=newsletters.qs.com#google%5Fvignette) to expand operations and its development efforts.

## **📅** Economic Calendar

US Inflation, UK GDP, Balance of Trade Data + More

### Friday, October 04th 2024

[🇨🇦 Canada Balance of Trade Data, ](https://www.statcan.gc.ca/?ref=newsletters.qs.com)August  
[🇺🇸 US Employment Data, ](https://www.bls.gov/?ref=newsletters.qs.com)September

### Monday, October 07th 2024

[🇦🇺 Australia RBA Meeting Minutes](http://www.rba.gov.au/?ref=newsletters.qs.com)

### Tuesday, October 08th 2024

[🇨🇦 Canada Balance of Trade Data, August](https://www.statcan.gc.ca/?ref=newsletters.qs.com)  
[🇦🇺 Australia Westpac Consumer Confidence Data, October](http://www.westpac.com.au/?ref=newsletters.qs.com)

### Wednesday, October 09th 2024

[🇩🇪 Germany Balance of Trade Data, August](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com)

### Thursday, October 10th 2024

[🇺🇸 US Core Inflation Data, September](http://www.bls.gov/?ref=newsletters.qs.com)  
[🇺🇸 US Inflation Data, Septembe](http://www.bls.gov/?ref=newsletters.qs.com)r

### Friday, October 11th 2024

[🇬🇧 UK GDP Data, August](http://www.ons.gov.uk/?ref=newsletters.qs.com)  
[🇨🇦 Canada Employment Data, September](https://www.statcan.gc.ca/?ref=newsletters.qs.com)  
[🇺🇸 US PPI Data, ](https://www.bls.gov/?ref=newsletters.qs.com)September  
[🇺🇸 US Michigan Consumer Sentiment Prel, October](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com)

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