Report: BASF in talks on Wintershall, Russian tycoon’s DEA merger

MOSCOW, Nov 24 (PRIME) -- German chemicals producer BASF is negotiating a merger of its affiliate Wintershall and DEA Deutsche Erdoel owned by LetterOne (L1) of Russian businessman Mikhail Fridman, Bloomberg reported Friday, citing sources with knowledge of the situation.

The value of the merged company, in which BASF may get over 66%, can exceed U.S. $12 billion.

According to the sources, the companies plan to reach a deal in several weeks or even days.

BASF and L1 declined to comment.

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