Morningstar

BASF to Trim Harbour Energy Stake

Provided by Dow Jones Mar 26, 2026, 5:41:00 PM

By Mauro Orru

German chemicals giant BASF plans to cut its stake in U.K. oil-and-gas group Harbour Energy through a share placing via an accelerated bookbuild.

Morgan Stanley Europe, the sole bookrunner in connection with the placing, said BASF would sell roughly 60 million ordinary shares in Harbour and lower its stake and voting rights in the company to about 37%. BASF's stake and voting rights amounted to over 41% at the end of February, according to Harbour's annual report.

The bank said the price per placing share would be determined through the accelerated bookbuild, but the sale would be valued at about 180 million pounds ($240.6 million) based on Harbour's current share price.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

March 26, 2026 13:41 ET (17:41 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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