Wintershall has obtained competition clearance for completion of offer to acquire Revus Energy ASA
Kassel. Wintershall Holding AG today announces that Wintershall Norwegen Explorations- und Produktions-GmbH ("Wintershall") has obtained the necessary clearance from the Norwegian Competition Authority for completion of its voluntary offer to acquire Revus Energy ASA stated in the Offer Document on 4 November 2008 and the regulatory clearance from the UK Department of Energy and Climate Change concerning the UKCS licences held by Revus Energy ASA and any of its subsidiaries. Furthermore, Wintershall has obtained the approval by the Norwegian Ministry of Finance, which however is subject to the approval by the Norwegian Ministry of Petroleum and Energy.
The remaining governmental approval expected for completion of the offer is the approval by the Ministry of Petroleum and Energy. The other conditions referred to in the Offer Document are still valid.
Wintershall, based in Kassel, Germany, is a wholly-owned subsidiary of BASF in Ludwigshafen. The company has been active in the exploration and production of crude oil and natural gas for over 75 years. Wintershall focuses on selected core regions, where the company has built up a high level of regional and technological expertise. These are Europe, North Africa, South America, as well as Russia and the Caspian Sea region. Today the company is Germany’s largest producer of crude oil and natural gas and with its subsidiary, WINGAS, it is also an important gas supplier on the German and European market.