Deal Insight
Harbour Energy acquires Wintershall Dea in a reverse takeover
*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
-
Upstream assets
-
Wintershall Dea
- Norway
- Germany
- Denmark
- Latin America
- North Africa
-
Harbour Energy
- Post-acquisition
-
Wintershall Dea
-
Deal analysis
- Net zero
-
Upsides and risks
-
Upsides
- Europe
- Latin America
- North Africa
-
Risks
- Europe
- Latin America
- North Africa
-
Upsides
-
Strategic rationale
-
Russia-Ukraine war a pivotal moment for both companies
- Wintershall Dea
- Harbour Energy
- Carbon Capture & Storage
- What next?
-
Russia-Ukraine war a pivotal moment for both companies
- Oil & gas pricing and assumptions
Tables and charts
This report includes 12 images and tables including:
- Executive summary: Table 1
- Combined company production outlook
- Strategic fit of upstream portfolios
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Gross operated emissions as % of net equity emissions
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Harbour Energy and Wintershall Dea CCS portfolios
- Combined portfolio top ten assets by NPV10
- Upstream assets: Table 1
What's included
This report contains:
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