BASF ready to push Wintershall Dea IPO against co-owner's opposition

A cyclist rides his bike past the entrance of the BASF plant and former Ciba production site in Schweizerhalle near Basel, Switzerland July 7, 2009. REUTERS/Christian Hartmann

FRANKFURT, Feb 25 (Reuters) – BASF (BASFn.DE), co-owner of Nord Stream 2 backer Wintershall Dea, said it was prepared to push through an initial public offering of the oil and gas business next year even as markets are roiled by Russia’s attack on Ukraine.

The dispute over the IPO timing erupted last month when Wintershall Dea co-investor LetterOne came out opposing the market flotation – which the joint venture partners had already agreed on – for the time being. read more

“Given the significant strategic relevance of the IPO (of Wintershall Dea) for BASF and our stakeholders, we will use all available means to protect our rights and interests, including legal remedies and the right to unilaterally…