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Top related persons:
Toru Hanai - 1 Wintershall - 1 Jaber - 1 It’s - 1 Austria’s - 1 Abu - 1 LetterOne - 1 George Hay - 1
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Russia Gastech Chiba Japan Abu Dhabi The UAE Germany Norway
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Thomson - 2 REUTERS - 1 Abu Dhabi National Oil Company - 1 BASF - 1 The - 1 Shell - 1 Russian - 1 Reuters Graphics Reuters - 1

Search resuls for: "LetterOne"


5 mentions found


☆ ADNOC German oil deal has bad timing, good logic
  + stars: | 2023-11-28 | by ( Karen Kwok | ) www.reuters.com   time to read: +4 min
Abu Dhabi National Oil Company (ADNOC), the state-owned Abu Dhabi oil giant he runs, is considering a bid for BASF-owned (BASFn.DE) Wintershall Dea, at a potential $11 billion valuation. The UAE firm is already in talks to buy chemical company Covestro (1COV.DE), Wintershall’s German compatriot, for $12 billion. Abu Dhabi's oil riches mean the UAE firm has the wherewithal to pay 5.5 billion euros for BASF’s Wintershall stake. Any deal could value Wintershall Dea at more than 10 billion euros ($11 billion), Bloomberg reported. BASF holds a 72.7% stake in Wintershall Dea.
Persons: Toru Hanai, Wintershall, Jaber, It’s, Austria’s, Abu, LetterOne, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Abu Dhabi National Oil Company, BASF, The, Shell, Russian, Reuters Graphics Reuters, Abu, National Oil Company, Bloomberg, Wintershall Dea . Investment, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, The UAE, Germany, Norway, UAE, Europe, United Kingdom, Abu, Russia, Wintershall Dea
☆ Russian oligarch Kuzmichev put under formal investigation in France - source
  + stars: | 2023-11-01 | by ( ) www.reuters.com   time to read: +2 min
PARIS, Nov 1 (Reuters) - French investigative judges on Wednesday put Russian tycoon Alexey Kuzmichev under formal investigation, a source at the financial prosecutor's office said. Kuzmichev, who had been held for questioning since Monday, was put under formal investigation over allegations of laundering of tax evasion proceeds, money laundering and concealed work, the source said. While the financial prosecutor's office had sought for Kuzmichev to be placed in pre-trial detention, he will be set free under judicial supervision, the source said. Being placed under formal investigation in France does not imply guilt or necessarily lead to trial but shows judicial authorities consider there is enough to the case to proceed with the probe. Kuzmichev was one of very few Russian tycoons who stayed in the West after Russia invaded Ukraine.
Persons: Alexey Kuzmichev, Kuzmichev, Vladimir Putin, Forbes, Russian tycoons, Ingrid Melander, Felix Light, Diane Craft, Sandra Maler Organizations: Wednesday, Kuzmichev's Paris, European Union, Russia's Alfa Bank, Thomson Locations: France, Ukraine, Russian, West, Russia
☆ BASF shareholders say Russia exit sets up oil and gas IPO
  + stars: | 2023-01-19 | by ( Patricia Weiss Ludwig Burger | Patricia Weiss | Ludwig Burger | ) www.reuters.com   time to read: +3 min
BERLIN/FRANKFURT, Jan 19 (Reuters) - BASF (BASFn.DE) investors said that oil and gas business Wintershall Dea's exit from Russia, though painful, clears the way for plans to take it public and for BASF to focus on its chemicals operations. Portfolio manager Arne Rautenberg of mutual fund company Union Investment, among the 10 largest BASF shareholders, welcomed BASF drawing a line. "This step will facilitate an IPO of Wintershall Dea," said Cornelia Zimmermann, a corporate governance specialist at mutual fund group Deka Investment. BASF said last year that the oil and gas company's exposure in Russia was the reason for it to hold off on plans to take Wintershall Dea public. Before the Ukraine war, Russia had accounted for roughly half of WD's global oil and gas output.
☆ Wintershall Dea to leave Russia, causing net loss at BASF
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +1 min
"Wintershall Dea will end its Russian activities. Continuing to operate in Russia is not tenable," said Mario Mehren, CEO of Wintershall Dea, which is a 72.7%-27.3% joint venture between BASF and Russian billionaire Mikhail Fridman's investment firm LetterOne. BASF said the impairment would cause a 1.4 billion euros net loss in 2022 according to preliminary results. Wintershall Dea intends to fully exit Russia, BASF said, citing "extensive loss of actual influence and economic expropriation" in the country. Earnings before interest and tax were 6.5 billion euros, slightly below analysts' estimates of 6.8 billion euros.
☆ LetterOne proposes $1 bln debt deal for Holland & Barrett- Sky News
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterPeople wearing protective face masks are seen outside a Holland & Barrett store in Durham, as the spread of the coronavirus disease (COVID-19) continues, Durham, Britain, April 8, 2020. The move is intended to prevent lenders from taking control of Holland & Barrett if it defaulted on its repayment obligations, the report said. Both Holland & Barrett and LetterOne did not immediately respond to Reuters' request to comment. The Russian-linked investment vehicle, co-founded by oligarch Mikhail Fridman, acquired Holland & Barrett in 2017. read more($1 = 0.8779 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Shanima A in Bengaluru; Editing by Shinjini Ganguli and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
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