Harbour Energy to complete Wintershall Dea acquisition earlier than expected

27th Aug 2024 08:31

(Sharecast News) - Harbour Energy surged on Tuesday after saying that its acquisition of the Wintershall Dea asset portfolio was set to complete earlier than expected.

The deal is now expected to close early next month, versus previous guidance of early in the fourth quarter.

"This follows considerable progress made on satisfying the conditions to completion, including recent receipt of Mexico regulatory consents," the company said.

Harbour Energy announced in December 2023 that it had agreed to buy the upstream assets of German oil and gas producer Wintershall Dea from shareholders BASF and LetterOne for $11.2bn.

At 0940 BST, the shares were up 7% at 300.50p.