BASF studies sale of Wintershall Dea

2023-11-23 20:33:00

ADNOC, Harbor Energy may be among the contenders

Photo: Friso Gentsch/picture alliance via Getty Images

Moscow. November 23. INTERFAX.RU – The German chemical group BASF has hired consultants to study the possibility of selling its 73 percent stake in the oil and gas Wintershall Dea.

As reported by Bloomberg, citing sources familiar with the situation, possible bidders may include the Abu Dhabi oil company ADNOC, as well as the British Harbor Energy Plc.

The price of the potential deal might be more than 10 billion euros ($11 billion).

Wintershall Dea was formed in 2019 through the merger of Wintershall Holding GmbH (the oil and gas division of BASF) with LetterOne-controlled DEA Deutsche Erdoel AG.

In 2022, the company announced its decision to exit its Russian assets (these are production joint ventures with Gazprom), but cannot yet implement these plans due to restrictive measures.

1700800881
#BASF #studies #sale #Wintershall #Dea