germany’s basf agrees oil merger with russian tycoon’s firm
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Germany’s BASF agrees oil merger with Russian tycoon’s firm

Arab Today, arab today

Arab Today, arab today Germany’s BASF agrees oil merger with Russian tycoon’s firm

German chemicals giant BASF has agreed to merge its Wintershall oil and gas
Frankfurt - Arab Today

German chemicals giant BASF has agreed to merge its Wintershall oil and gas unit with the DEA energy firm owned by Russia’s billionaire entrepreneur Mikhail Fridman.
The multi-billion-euro deal will create “one of the largest independent European exploration and production companies” with “significant growth potential” and scope for synergies, BASF said in a statement late Thursday.
BASF said it would initially hold 67 percent of shares in the joint venture, which will go by the name Wintershall DEA.
The remaining shares will be held by the LetterOne group, Fridman’s Luxembourg-based investment group which owns DEA.
There are plans for the new entity to be listed on the stock exchange “in the medium term,” BASF added.
BASF and LetterOne signed a letter of intent to merge on Thursday and expect the deal to close in the second half of 2018, depending on regulatory approvals.
LetterOne purchased DEA, which specializes in oil and gas exploration and production, from German energy group RWE in 2015 for €5.1 billion (SR22.54 billion).
At the time, BASF was also believed to be interested in snapping up the division.
Bloomberg news agency, citing sources familiar with the talks, last month said the merged enterprise would be valued at more than €10 billion.
Wintershall DEA will be headquartered in the German cities of Kassel and Hamburg, where the two companies are currently based.

Source:Arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany’s basf agrees oil merger with russian tycoon’s firm germany’s basf agrees oil merger with russian tycoon’s firm

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany’s basf agrees oil merger with russian tycoon’s firm germany’s basf agrees oil merger with russian tycoon’s firm

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’

GMT 21:43 2017 Friday ,01 September

People question Nazaruddin`s repatriation expenses

GMT 09:41 2017 Wednesday ,19 April

OIC concerned over violence in Mali

GMT 01:30 2017 Friday ,27 October

May22/Jun21

GMT 05:38 2016 Friday ,30 December

Dubai Airports divert 13 flights due to heavy fog

GMT 11:38 2017 Saturday ,14 January

Mexico names new ambassador to US

GMT 12:03 2017 Wednesday ,22 March

Kuwait to mark World Water Day

GMT 15:00 2017 Wednesday ,27 September

HM King receives invitation from Egyptian President

GMT 02:45 2017 Tuesday ,05 December

President Bashir arrives in Chad

GMT 02:45 2017 Wednesday ,16 August

Turkmen President Visits Pakistan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday