Ministry of Economic Affairs (Archive), via TDS News Agency
Berlin (dts news agency) – BASF is facing political opposition as it plans to sell Winterhall Tea to British oil major Harbor Energy. The Federal Economy Ministry will scrutinize the sale plans “very seriously”, writes “Handelsblatt”, citing “government sources”.
This may affect the contract. Under certain conditions, if the acquirer of a company such as Wintershall Tea is not from the EU, the federal government can block the takeover under the Foreign Trade Ordinance (AWV).
Traffic light units in the Bundestag are also pushing for it. SPD energy politician Bengt Bergt told “Handelsblatt” that the sale would not only mean a loss of know-how, but also that Germany would lose technical access to gas fields. Bergt criticized the sale as missing out on expertise in processes to capture and store CO2.
Just before Christmas, BASF announced plans to merge its subsidiary Wintershall Dea with mid-sized British oil company Harbor Energy. For Germany's sole oil and gas producer, the deal would mean the end of independence. Both headquarters in Kassel and Hamburg will be closed and hundreds of jobs will be cut.
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