BASF weighs transfer of Wintershall’s Russian assets to co-owner, source says

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Reuters UK

By Ludwig Burger FRANKFURT (Reuters) – BASF is looking into transferring Russian assets of its oil and gas business Wintershall Dea to co-investor LetterOne, a person familiar with the matter said, as the German chemicals giant tries to extricate itself from businesses in Russia. Offloading the assets could allow BASF to revive plans for an initial public offering of the remaining energy business, after it faced opposition against a listing from investment partner LetterOne. BASF said last week it had for now given up efforts to separately list Wintershall Dea due to the joint-venture’s exposu…

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