Moskau/Kassel. Following lengthy preparations for their asset swap, BASF/Wintershall and Gazprom signed the final agreements on it in Moscow on Monday (December 23, 2013). As a result, WINGAS will become a wholly-owned subsidiary of Gazprom.
“In its capacity as a shareholder, the world’s largest natural gas producer has helped actively shape and support the WINGAS Group in establishing its natural gas trading and storage activities since its foundation in 1993”, says WINGAS Chairman Gerhard König. Gazprom’s commitment will further strengthen WINGAS’ position in the challenging European natural gas market and as a reliable partner to its customers. WINGAS aims to grow further in Germany and its other key European markets. König: “The foundation for its continued positive performance on the European natural gas market has now been laid with the new shareholder structure.” As part of the changes, WINGAS will move into its own headquarters at the company’s location in Kassel in the spring of 2015.
Acquisition of all of the WINGAS Group’s natural gas trading and storage activities has already been approved by the responsible authorities and the EU Commission and is to be finalized completely by mid 2014. As already announced, the transaction will take place with retroactive economic effect as of April 1.