Wintershall Clears Regulatory Hurdles for Clyde Acquisition
Wintershall Nederland B.V. has completed the takeover of Clyde Netherlands B.V., after receiving unconditional approval by the German and Dutch competition authorities. These approvals enabled the purchase agreement signed in early October, together with the transfer of ownership, to be finalized.
Clyde Netherlands B.V. was owned by ConocoPhillips. Clyde Netherlands B.V. is a major participant in oil and gas production in the Dutch sector of the North Sea and on the Dutch mainland. Wintershall Nederland B.V. is part of the German company Wintershall AG, a wholly-owned subsidiary of BASF. Oil and gas make up one of the five core segments of BASF, and within the BASF Group, Wintershall is fully responsible for them.
Representatives of Wintershall Nederland B.V. and Clyde Netherlands B.V. are now progressing the integration. The companies will combine operational activities and will rapidly emerge as a fully integrated business.