Wintershall Dea Sale to Be Reviewed, German Econ Minister Says
January 17 2024 - 1:24PM
Dow Jones News
By Andrea Thomas
BASF's planned sale of the exploration and production business
of its subsidiary Wintershall Dea to Harbour Energy will be
reviewed for its potential impact on German security interests,
according to Economics Minister Robert Habeck.
Habeck told the German parliament on Wednesday that the
government reviews corporate investments and divestments with an
eye to whether national security might be jeopardized by a
cross-border transaction.
At the end of December, BASF agreed to sell Wintershall Dea's
exploration and production business to the U.K.'s Harbour Energy,
in a transaction valued at $11.2 billion.
Industry group Zukunft Gas expressed concerns over the deal.
"Germany will be dependent on natural gas for many years to
come, so Wintershall Dea and its domestic gas production play an
important role in the transformation of the energy system," Zukunft
Gas head, Timm Kehler, said.
Nina Kienle contributed to the article.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 17, 2024 13:09 ET (18:09 GMT)
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