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
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
