BASF Cuts Stake in Harbour Energy With $478 Million Share Sale
By Adam Whittaker
German chemicals giant BASF cut its stake in London-listed energy company Harbour Energy after selling around 353.78 million pounds ($478 million) of shares.
In total, BASF sold roughly 133 million shares for 266 pence each, bookrunner Morgan Stanley said Friday. Some 80 million ordinary shares were sold via a placing to institutional investors while Harbour bought 53 million. The offering was first announced late Thursday.
Harbour Energy's shares closed Thursday at 277.80 pence.
BASF is one of Harbour's largest shareholders but has been trimming its holdings. It initially received a 46.5% stake under a 2024 deal when Harbour acquired Wintershall Dea's upstream assets.
On completion of the sale, BASF will hold 16.4% of the company's voting rights, down from around 24.3%, Harbour said in a release Friday.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
September 11, 2026 02:55 ET (06:55 GMT)
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