BASF Cuts Harbour Energy Stake to 16 Percent
BASF has reduced its stake in Harbour Energy to 16.4 percent through a discounted share sale and buyback. The largest-ever block sale of Harbour shares sent the stock down over three percent.
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BASF SE cut its stake in HARBOUR ENERGY PLC to 16.4% in a £354M discounted block sale during Friday morning trading. The transaction marks the largest block sale in Harbour's history, pushing the stock down 3.2% on the United Kingdom exchange. The Germany-based chemical producer previously trimmed its holding in March.
