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Basf wintershall dea divestment: valuation & exit analysis in a geopolitically challenging environment - ESG dynamics and their valuation implications in the oil & gas industry
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Resumo(s)
This paper investigates both the theoretical framework and real-world applications of valuing a
private company, particularly in the context of divesting. The research examines Wintershall
DEA, a privately owned oil and gas company. It gains relevance in light of BASF's intention to
divest its stake in Wintershall DEA. For establishing a fair purchase price, the paper employs
both intrinsic and relative valuation methods to establish a valuation range. Key findings are:
(1) Industry-specific variations influence intrinsic valuation approaches, (2) Peer comparison
in E&P is subject to increased complexity, (3) Macroeconomic and geopolitical instabilities
increase corporate valuation volatility, (4) Strategic exit options are influenced by market
conditions and timing.
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Palavras-chave
Corporate finance Corporate valuation Divestments Exit analysis M&A Ipo Esg Oil and gas industry