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Finance

Harbour Energy's top shareholder further cuts stake to 16% in discounted share sale

Published by Global Banking & Finance Review

Posted on September 11, 2026

1 min read

· Last updated: September 11, 2026

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BASF Reduces Harbour Energy Stake to 16% in Largest-Ever Block Sale

Key Details of BASF's Stake Reduction in Harbour Energy

Sept 11 (Reuters) - Harbour Energy's top shareholder BASF has once again reduced its stake in the British oil and gas producer, in what is the largest-ever block sale of Harbour shares, sending the stock down more than 3%.

Transaction Overview

Here are some details:

Share Sale Breakdown

• The German chemicals group sold about 133 million ordinary shares in Harbour at £2.66 apiece, a 4.3% discount to the stock's closing price on Thursday.

Institutional Investors and Buyback

• It sold 80 million Harbour shares to institutional investors and agreed to sell 53 million ordinary shares to Harbour, with the buyback worth about $190 million.

Impact on BASF's Stake

• Once the share sale is completed, BASF's interest in Harbour Energy's is expected to reduce to 16.4% from about 24.3%.

• BASF had previously sold about 80 million Harbour shares at discounted prices in March.

Reporting and Editorial Credits

(Reporting by Yamini Kalia in Bengaluru; Editing by Janane Venkatraman)

Key Takeaways

  • BASF disposed of ~133 million Harbour shares via institutional sale (80 million) and a buyback arrangement (53 million), boosting liquidity at £2.66 per share, a 4.3 % discount (lse.co.uk).
  • Once complete, BASF’s shareholding in Harbour will fall to around 16.4 %, down from ~24.3 %, further weakening its board nomination rights and influence (ticker.app).
  • This move aligns with BASF’s long‑term strategy to exit its oil and gas exposure following the 2024 Wintershall Dea transaction, where it initially held ~46–39 % of Harbour post‑deal (basf.com).

References

Frequently Asked Questions

How much of its stake did BASF sell in Harbour Energy?
BASF sold about 133 million ordinary shares, reducing its stake from 24.3% to 16.4%.
At what price were Harbour Energy shares sold by BASF?
The shares were sold at £2.66 apiece, a 4.3% discount to the closing price.
How was the block sale of Harbour Energy shares structured?
BASF sold 80 million shares to institutional investors and agreed to sell 53 million shares back to Harbour Energy.
What was the impact of the BASF share sale on Harbour Energy's stock price?
The stock dropped more than 3% following the news of the large block sale.

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