Abu Dhabi's ADNOC said Tuesday it agreed to acquire German chemicals producer Covestro (OTCPK:CVVTF) (OTCPK:COVTY) for €15.9B (~$18B) including debt, finally bringing an end to more than a year of talks.

Abu Dhabi’s national oil company has agreed a €14.7bn deal to buy German chemicals group Covestro in one of the largest European takeovers this year. Adnoc, which has been pursuing Covestro since last year,

Abu Dhabi National Oil Co. has reached a deal to buy chemical producer Covestro AG for about €11.7 billion ($13 billion), in what’s set to be the biggest Middle Eastern acquisition of a European firm.