Wintershall-DEA: The anatomy of a merger
The Wintershall-DEA deal brings together businesses that in 2017 had combined sales of €4.7bn
At the end of September, almost a year on from the announcement that Wintershall and DEA had agreed in principle to merge, their respective owners—Germany chemicals company BASF and LetterOne, the Luxembourg-based investment fund co-founded by the Russian oligarch Mikhail Fridman in 2013—signed a "definitive transaction agreement". Assuming the merger is approved by the relevant authorities, the transaction is expected to close in the first half of 2019. It will bring together businesses that in 2017 had combined sales of €4.7bn, and oil and gas production of 575,000 boe/d. The merger is expected to generate synergies of at least €200m a year and create a regionally more balanced footprint.
Also in this section
10 September 2024
The August/September issue of Petroleum Economist is out now!
10 September 2024
The third part in the second chapter of our history of oil looks at the US shale revolution and ‘declaration of cooperation’ that created OPEC+
9 September 2024
We pick up the story of the history of oil with the response of consumer countries to the 1973 embargo, with the creation of the IEA proving the adage that every action has a reaction
9 September 2024
Continuing our 90th anniversary deep dive into the history of oil, the first part of our second chapter covers the post-war world and the beginnings of OPEC
