Update On Off-market Purchase Alongside BASF Offer

Summary by AI BETAClose X

Harbour Energy plc has agreed to an off-market purchase of 53 million ordinary shares from BASF for approximately $190 million, at a price of £2.66 per share, which is subject to BASF's institutional investor offering. This transaction will reduce BASF's stake in Harbour Energy from approximately 24.3% to 16.4%, with the purchased shares to be cancelled. Of the total purchase amount, $40 million will be deducted from the previously announced $250 million share buyback program.

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