BFFAF - BASF seeks transfer of Wintershall Russian assets to co-owner - Bloomberg

BASF (OTCQX:BASFY) is exploring a plan to offload energy assets in Russia belonging to its Wintershall Dea unit to LetterOne, its Russian joint venture partner, Bloomberg reported Wednesday. A split reportedly would allow BASF to revive plans for an IPO of the remaining business, a move that LetterOne has so far sought to block. "Wintershall with the Russian business is obviously toxic and impossible to IPO or even sell to a strategic buyer," Astler Research analyst Oliver Wojahn told Bloomberg, adding that BASF’s association with a sanctioned person was a reputational burden, "so the asset swap would solve two problems for BASF." Seeking Alpha contributor Mare Evidence Lab recently reiterated its Buy rating with a price appreciation of more than 40%, in a bullish analysis posted on Seeking Alpha.

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BASF seeks transfer of Wintershall Russian assets to co-owner - Bloomberg