LetterOne and BASF sign Letter of Intent

DEA Finance SA announces that LetterOne, the shareholder of the DEA Group, has confirmed it has signed a Letter of Intent with BASF to combine the parties’ oil and gas businesses in a joint venture to be named Wintershall DEA. There is no assurance that the companies will enter into definitive transaction agreements or that the intended transaction will be consummated. 

The DEA Group comprises L1E Finance GmbH & Co. KG and its subsidiaries, including without limitation DEA Finance SA and DEA Deutsche Erdoel AG and its subsidiaries.

LetterOne is a privately-owned, Luxembourg-based international investment business. LetterOne owns the DEA Group through L1 Energy, LetterOne’s oil & gas investment business.

Source / More: DEA Group

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