BASF and Gazprom Complete Asset Swap

BASF and Gazprom completed their asset swap on September 30 as planned. The deal, initially planned to be completed by the end of 2014 is financially retroactive to April 1, 2013. It was delayed for a year due to the Ukraine crisis.

With the swap, BASF is further expanding its production of oil and gas and has exited the gas trading and storage business.

Following the closing of the transaction, Gerhard König has left the managing board of BASF group company Wintershall Holding and has transferred to Gazprom Group as chairman of the supervisory board of Wingas.