Britain's Harbour Energy on Thursday agreed to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with co-owners BASF and LetterOne that creates one of the world's biggest independent producers, said Reuters.
London-listed Harbour, the largest British North Sea oil and gas producer, has sought to expand beyond the United Kingdom after the government imposed a windfall tax on the sector following the spike in energy prices in 2022, pushing Harbour into a loss in the first half of this year.
Harbour shares closed 21% higher, while BASF's stock ended the day flat. The deal, expected to close in the fourth quarter of 2024, is the latest in a number of large oil and gas acquisitions in recent months including Exxon Mobil's $60 billion deal for Pioneer Natural Resources and Chevron's $53 billion deal for Hess Corp in October.
It is the fourth major acquisition Harbour, and its predecessor Chrysaor, has done since 2017.
We remind, Samyang Corporation, a chemical/food business subsidiary of Samyang Group (CEO Ho-sung Kang), recently announced that nine types of their recycled fishing net plastic (nylon) material, "TRIECO 4D," have acquired global certification for ocean plastic recycling, "ECV Ocean Plastic (2809-3)," from the international testing and certification agency, UL Solutions.
mrchub.com