Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

M.8773 - LetterOne/BASF/Wintershall DEA

SECTION 1.2

Description of the concentration

-On 24 January 2019, the European Commission received a notification for a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004, by which L1 Energy Holdings Limited, a directly controlled subsidiary of LetterOne Holdings S.A., and BASF S.E. intend to create a joint venture combining their oil and gas activities.

The business activities of the undertakings concerned are:

-LetterOne Holdings S.A.: A private investment holding company focusing on investments, through its subsidiaries, in the energy sector. LetterOne Holdings owns DEA Deutsche Erdoel AG, an international exploration and production company for oil and gas.

-BASF S.E.: A European stock corporation mainly active in the chemical sector and which portfolio is split into five segments: chemicals, performance products, functional materials and solutions, agricultural solutions and oil and gas. BASF S.E. owns Wintershall Holding GmbH which is active in the exploration and production of oil and gas in Europe, Russia, South America, North Africa, and the Middle East.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.