Deal Insight
Harbour Energy acquires Wintershall Dea in a reverse takeover
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Harbour Energy has agreed to acquire the majority of Wintershall Dea's upstream portfolio for US$11.2 billion. Harbour will pay US$2.15 billion cash, US$4.15 billion equity and US$4.9 billion from the assumption of bonds. Structured as an asset transaction, the deal is a reverse takeover, which will see existing Wintershall Dea shareholders hold up to 54.5% in the company.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
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Wintershall Dea
- Norway
- Germany
- Denmark
- Latin America
- North Africa
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Harbour Energy
- Post-acquisition
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Wintershall Dea
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Deal analysis
- Net zero
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Upsides and risks
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Upsides
- Europe
- Latin America
- North Africa
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Risks
- Europe
- Latin America
- North Africa
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Upsides
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Strategic rationale
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Russia-Ukraine war a pivotal moment for both companies
- Wintershall Dea
- Harbour Energy
- Carbon Capture & Storage
- What next?
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Russia-Ukraine war a pivotal moment for both companies
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Combined company production outlookStrategic fit of upstream portfolios
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Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Gross operated emissions as % of net equity emissionsDeal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Harbour Energy and Wintershall Dea CCS portfoliosCombined portfolio top ten assets by NPV10Upstream assets: Table 1
What's included
This report contains:
