Wintershall Dea Sale to Be Reviewed, German Econ Minister Says
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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: AI Leaders Excel in Earnings Season
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth