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BASF in Talks to Merge Oil Unit Wintershall With Fridman’s Dea, Sees IPO

The German chemicals company would hold a majority in the combined entity, with a view to a possible initial public offering “in the medium term,” BASF said in a statement after Bloomberg News reported that the two sides were in talks. Discussions between BASF’s Wintershall AG unit and Fridman’s Dea Deutsche Erdoel AG are advanced and the combined entity could be valued at more than 10 billion euros ($12 billion), according to people familiar with the talks, asking not to be identified as the information is private.

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