BASF’s Russia Assets Face Risk: Barclays; Slow Start in Sept.
2014-09-26 07:25:05.833 GMT
By Chiara Remondini
Sept. 26 (Bloomberg) -- BASF is most exposed European
chemical co. to Russia with est. EU6b assets due to its gas
fields Russkoye, Achimgaz, according to Barclays note.
* Barclays (overweight) notes BASF has guarantees from German
govt on compensation for possible losses, not clear how
these would be calculated
* News on Russian draft law to seize foreign assets
“clearly increases” risk for BASF’s oil & gas business
(60%-65% of co.’s oil & gas reserves in Russia)
* Barclays says co. confirms “slow start in the industrial
business” in first weeks of Sept., unclear if slowdown is
broad based
* NOTE yday: Putin Party Proposes Law on Seizing Foreign
States’ Assets
* NOTE yday: Russia-exposed stocks BASF, Nokian Renkaat,
Carlsberg decline
* BASF due to report 3Q on Oct. 24
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To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-09-26 07:25:05.833 GMT
By Chiara Remondini
Sept. 26 (Bloomberg) -- BASF is most exposed European
chemical co. to Russia with est. EU6b assets due to its gas
fields Russkoye, Achimgaz, according to Barclays note.
* Barclays (overweight) notes BASF has guarantees from German
govt on compensation for possible losses, not clear how
these would be calculated
* News on Russian draft law to seize foreign assets
“clearly increases” risk for BASF’s oil & gas business
(60%-65% of co.’s oil & gas reserves in Russia)
* Barclays says co. confirms “slow start in the industrial
business” in first weeks of Sept., unclear if slowdown is
broad based
* NOTE yday: Putin Party Proposes Law on Seizing Foreign
States’ Assets
* NOTE yday: Russia-exposed stocks BASF, Nokian Renkaat,
Carlsberg decline
* BASF due to report 3Q on Oct. 24
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net