Wintershall, DEA still discussing deal

Energy Production

BASF oil & gas subsidiary Wintershall and Russian billionaire Mikhail Fridman's DEA haven't finalized a merger agreement, according to Reuters. Last month, BASF and DEA parent LetterOne signed a letter of intent to combine their oil & gas businesses in a joint venture that would operate as Wintershall DEA, with BASF initially holding 67% and LetterOne the remainder. DEA generated around €1.5 billion (about $1.8 billion) in sales in 2016, while Wintershall logged some €2.8 billion in sales.

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