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Energy casino 31/2/2024 ![]() With this transaction, BASF takes a major step towards achieving its announced strategic goal to exit the oil and gas business. This amount includes the outstanding bonds of Wintershall Dea with a nominal value of around $4.9 billion that will be transferred to Harbour at closing. The agreed enterprise value for the Wintershall Dea assets amounts to $11.2 billion. In exchange, at closing, the shareholders of Wintershall Dea – BASF (72.7%) and LetterOne (27.3%) – will receive total cash consideration of $2.15 billion (BASF share: $1.56 billion) and new shares issued by Harbour equating to a total shareholding in the enlarged Harbour of 54.5% (BASF share: 39.6%). Subject to regulatory approvals, closing is targeted for Q4 2024īASF, LetterOne and Harbour Energy plc (Harbour) today (December 21, 2023) signed a business combination agreement to transfer Wintershall Dea’s E&P business consisting of its producing and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding Ravn) as well as Wintershall Dea’s carbon capture and storage (CCS) licenses to Harbour.BASF and LetterOne to receive cash consideration and share in the combined company.E&P business of Wintershall Dea, excluding Russia-related activities, to be transferred to Harbour Energy plc.
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