Wintershall Dea says to spin off Russian business by July in 2024

MOSCOW, Sep 5 (PRIME) -- Germany's Wintershall Dea plans to spin off the Russian business from the international company legally by July 2024, the company said in a statement on Tuesday.

"Our decision is clear: We are leaving Russia. The legal separation of our international business from the Russian joint ventures is a further step in this process," CEO Mario Mehren said. "The legal separation is planned to be completed by mid-2024," the company added in the statement.

Wintershall Dea's joint ventures with Russia's participation are joint ventures in Russia, a 51% stake in Wintershall AG in Libya, a 50% one in Wintershall Noordzee BV in the Netherlands and a 15.5% interest in Nord Stream AG.

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