Harbour Energy in $11.2 billion deal to buy Wintershall Dea’s upstream assets

(Reuters) – Britain’s Harbour Energy said on Thursday it has agreed with BASF and LetterOne to buy most of German Wintershall Dea’s upstream assets for $11.2 billion.

These include Wintershall Dea’s upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria, as well as the company’s carbon dioxide capture and storage licences in Europe.

Its Russian assets are excluded, Harbour said.

BASF, a majority shareholder in Wintershall Dea, will own 46.5% of Harbour and will be entitled to nominate two non-executive directors to the latter’s board, as part of the deal.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Pooja Desai)