IHS Chemical Week

People & Business :: Energy and Feedstocks

Reports: BASF planning bid for oil and gas exploration firm DEA

10:03 AM MST | December 19, 2013 | Francinia Protti-Alvarez

BASF's mergers and acquisitions team is preparing a multibillion-euro bid for DEA (Hamburg), the oil and gas exploration business of utility company RWE (Essen, Germany), according to various media reports. The assets were put up for sale in March and Goldman Sachs was hired to run the sale with the assets valued at €5-8 billion, according to a Reuters report. Wintershall (Kassel, Germany), BASF's exploration and production subsidiary, confirmed its interest in DEA at that time. BASF declined to comment on the reports. DEA has production facilities and...

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