October 2, 2018 / 6:15 AM / 8 months ago

Wintershall DEA eyes listing in H2 2020 - Handelsblatt

FRANKFURT, Oct 2 (Reuters) - A planned tie-up of BASF’s Wintershall and LetterOne’s DEA could be listed in the second half of 2020, its designated chief executive told a German newspaper in an interview published on Tuesday.

Last week, BASF and LetterOne signed a merger agreement to combine their respective oil and gas businesses into a merged entity, to be named Wintershall DEA, which will be headquartered in Kassel and Hamburg.

Asked when the merged entity — in which BASF will initially hold 67 percent while LetterOne will own the rest — will go public, Mario Mehren told Handelsblatt: “If everything goes according to plan in the second half of 2020. That is very ambitious. Closing of the transaction is planned for the first half of 2019.” (Reporting by Christoph Steitz, editing by Louise Heavens)

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