Morningstar

BASF Sells $291 million Stake in Harbour Energy

Provided by Dow Jones Mar 27, 2026, 8:21:00 AM

By Adam Whittaker

German chemicals giant BASF sold a roughly 218 million pounds ($290.6 million) stake in U.K. oil-and-gas group Harbour Energy through a share placing.

The shares were sold at 273 pence a share, which is a 9% discount to Thursday's closing price of 300 pence a share.

BASF obtained a large stake in Harbour Energy when the U.K. company completed an $11 billion deal to buy oil-and-gas producer Wintershall Dea's upstream assets in 2024.

BASF's share sale was increased to 80 million shares from a prior intention of 60 million due to strong demand from investors, its bookrunner Morgan Stanley said Friday.

The sale reduces BASF's stake and voting rights in Harbour Energy to about 35%. Its stake and voting rights were over 41% at the end of February, according to Harbour's annual report.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

March 27, 2026 04:21 ET (08:21 GMT)

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

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