BASF Sells $478 Million Harbour Energy Stake, Trimming Holding to 16.4%

BASF sold approximately 133 million shares in London-listed Harbour Energy.

The transaction was valued at £353.8 million ($478 million).

Shares were priced at 266 pence each.

Morgan Stanley managed the placement of 80 million shares with institutional investors.

Harbour Energy repurchased the remaining 53 million shares.

The sale reduces BASF’s voting rights from 24.3% to 16.4%.

BASF originally acquired the stake during the 2024 acquisition of Wintershall Dea’s upstream assets.

The company agreed to a 60-day lock-up period for its remaining shares.

The transaction was initially announced after market close on Thursday.