BASF Group company Wintershall sells share in South Stream Transport B.V.BASF Group company Wintershall today sold its 15-percent share in South Stream Transport B.V. to OAO Gazprom.
Ludwigshafen/Kassel, Germany. The BASF Group company Wintershall today sold on December 29, its 15-percent share in South Stream Transport B.V. to OAO Gazprom. As per the shareholders’ agreement, the purchase price reimburses the cash invested by BASF. The parties agreed not to disclose the purchase price. The other European shareholders of South Stream Transport B.V., ENI from Italy (20%), and EDF from France (15%) also sold their shares to Gazprom.
South Stream Transport B.V. was founded to construct the offshore portion of the South Stream pipeline through the Black Sea.
At BASF, 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). Further information on BASF is available on the Internet at www.basf.com.
Wintershall Holding GmbH, based in Kassel, Germany, is a wholly owned December 29, 2014 Jennifer Moore-Braun Phone: +49 621 60-99123 firstname.lastname@example.org Michael Sasse Phone: +49 561 301-3301 email@example.com 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.