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Harbour Energy to Repurchase $200 Million Worth of Shares from BASF

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Harbour Energy (HBR.L) agreed to purchase $200 million worth of its own shares from BASF (BAS.F) unit BASF Handels-und Exportgesellschaft mit beschränkter Haftung.

The oil and gas group will acquire the shares through an off-market transaction under a buyback contract entered into by the parties in June, according to a Thursday release. BASF will offer the shares through an accelerated bookbuild.

Harbour Energy said it will deduct any consideration exceeding $150 million from its ongoing $250 million share repurchase program.

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