Deal Insight
Harbour Energy acquires Wintershall Dea in a reverse takeover
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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