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Wintershall Sells Share in South Stream Transport B.V - BASF Group company Wintershall Holding GmbH sold its 15-percent share in South Stream Transport B.V. to OAO Gazprom - BASF.com
Wintershall Sells Share in South Stream Transport B.V

 

PRZOOM - /newswire/ - Ludwigshafen, Germany, 2014/12/29 - BASF Group company Wintershall Holding GmbH sold its 15-percent share in South Stream Transport B.V. to OAO Gazprom - BASF.com. DE000BASF111

   
 
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As per the shareholders’ agreement, the purchase price reimburses the cash invested by BASF. The parties agreed not to disclose the purchase price.

South Stream Transport B.V. was founded to construct the offshore portion of the South Stream pipeline through the Black Sea.

About BASF

At BASF (basf.com), we create chemistry and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

About Wintershall

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions where the company has built up a high level of regional and technological expertise. These are Europe, Russia, North Africa, South America, and increasingly the Middle East region. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. The company employs more than 2,500 staff worldwide from 40 nations and is now Germany’s largest crude oil and natural gas producer.

 
 
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Agency / Source: BASF

 
 

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Wintershall Sells Share in South Stream Transport B.V

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Wintershall | South Stream Transport
Contact: Jennifer Moore-Braun - BASF.com 
+49 621 60 99123 jennifer.moore-braun[.]basf.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BASF securities in any jurisdiction including any other companies listed or named in this release.

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