Less Ads, More Data, More Tools Register for FREE

German government to examine BASF sale of Wintershall Dea assets - Handelsblatt

Thu, 18th Jan 2024 08:50

BERLIN, Jan 18 (Reuters) - The German government wants to look at the $11.2 billion share and cash sale of Wintershall Dea's non-Russian oil and gas assets to Britain's Harbour Energy , German daily Handelsblatt said on Thursday.

The Federal Ministry of Economics will examine the planned sale by co-owners BASF and LetterOne "very intensively", Handelsblatt said, citing government sources.

When asked about the report, a ministry spokesperson said he could not comment as the issue concerns internal proceedings.

Under certain conditions, the German government can prohibit a company takeover, if the buyer is not from the European Union.

The deal, expected to close in the fourth quarter of 2024, was announced in December 2023 and falls in line with a number of large oil and gas acquisitions in recent months. (Writing by Nette Nöstlinger; editing by Matthias Williams)

Related Shares

More News
14 Jun 2024 09:27

LONDON BROKER RATINGS: BoA ups L&G; Deutsche Bank cuts Iomart

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

31 May 2024 09:35

Harbour Energy touts progress on Wintershall Dea asset acquisition

(Alliance News) - Harbour Energy PLC on Friday said that it continues to make good progress on its acquisition of the Wintershall Dea asset portfolio.

31 May 2024 08:58

LONDON MARKET OPEN: FTSE 100 up as markets wait for US PCE reading

(Alliance News) - The FTSE 100 in London opened higher on Friday, as investors eye a key US inflation data.

31 May 2024 07:50

LONDON BRIEFING: FTSE 100 called up; UK house prices show resilience

(Alliance News) - The FTSE 100 in London is called to open higher on Friday, as investors shake off US inflation nerves.

31 May 2024 07:14

Harbour Energy making 'good progress' on Wintershall takeover

(Sharecast News) - Harbour Energy said on Friday its blockbuster $11.2bn acquisition of Wintershall Dea's non-Russian oil and gas assets remained on t...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.