Publicação
Basf wintershall dea divestment: valuation & exit analysis in a geopolitically challenging environment - ESG dynamics and their valuation implications in the oil & gas industry
| Resumo: | 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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| Autores principais: | Heinz, Timm Christian |
| Assunto: | Corporate finance Corporate valuation Divestments Exit analysis M&A Ipo Esg Oil and gas industry |
| Ano: | 2024 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | 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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