Linklaters advises LetterOne on completion of merger of Wintershall and DEA
Düsseldorf/Berlin, 3. May 2019. Linklaters advised LetterOne on the completion of the merger between Wintershall and Dea. BASF and LetterOne had signed an agreement in September 2018 to combine their respective oil and gas businesses in a joint venture. The completion of the merger, which marks the largest transaction of its kind in the oil and gas sector in the last decade, creates the leading independent European oil and gas company and the world's largest privately held company in the energy sector.
The merger was completed via LetterOne contributing all of its shares in DEA Deutsche Erdoel AG into Wintershall Holding GmbH as part of a capital increase in kind and in return LetterOne received new shares in the joint venture. Following a resolution by the shareholders, the joint venture is being renamed into Wintershall Dea GmbH. The joint venture will have headquarters in Kassel and Hamburg. After formal registration of the corresponding capital increase, BASF will hold 67 percent and LetterOne 33 percent of Wintershall Dea's ordinary shares.
Linklaters LLP (Düsseldorf/Berlin): Linklaters advised under the direction of Dr Tim Johannsen-Roth (Partner, Corporate/M&A, Düsseldorf) and Christopher Bremme (Of Counsel, Energy/M&A, Berlin). Further team members are:
- Dr Carl Friedrich von Laer (Managing Associate, Corporate/M&A, Düsseldorf),
- Dr Jens Hollinderbäumer (Managing Associate, Corporate/M&A, Berlin),
- Dr Eva Hennen (Managing Associate, Corporate/M&A, Düsseldorf),
- Julia Sack (Managing Associate, Energy/M&A, Berlin),
- Dr Markus Appel (Partner, Environmental Law/M&A, Berlin),
- Richard Ginks (Partner, Finance & Projects, London),
- Dr Carsten Grave (Partner, Competition/Antitrust, Düsseldorf),
- Nicki Kayser (Partner, Capital Markets, Luxemburg),
- Oliver Rosenberg (Partner, Tax, Düsseldorf),
- Marc Trinkaus (Partner, Banking, Frankfurt),
- Denis Uvarov (Partner, Mainstream Corporate, Moscow),
- Pierre Zelenko (Partner, Competition/Antitrust, Paris),
- Dr Ingo Klauß (Counsel, Competition/Antitrust, Düsseldorf),
- Kirsten Placke (Counsel, Tax. Düsseldorf),
- Christoph Barth (Partner, Competition/Antitrust, Düsseldorf).