Germany's new large oil company realized

Authorities have approved the merger between oil companies Wintershall and DEA. The new company aims at a listing in the second half of 2020.

BY NIKLAS KRIGSLUND, SHIPPINGWATCH

Germany's new large oil company has finally been green-lighted by authorities.

In late 2017, oil companies Wintershall and DEA agreed on a merger. At the time, it was expected to be finalized in 2018.

Meanwhile, approval did not arrive until now, when authorities have finally accepted the joining, writes Sysla.no.

The new company will be called Wintershall DEA. Its chief executive will be the current CEO of Wintershall, Mario Mehren.

Initially, the company will be owned by German chemical group BASF, but the goal is to be listed in the second half of 2020. According to Reuters, market value may land somewhere between EUR 15 and 20 million, if the listing is realized.

(This article was provided by our sister media ShippingWatch)

English Edit: Jonas Sahl Jørgensen

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