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BASF and LetteOne have entered into a definitive transaction agreement to combine Wintershall and DEA and convert it into a joint venture (JV) to be called Wintershall DEA. LetterOne will give all of its shares in DEA to Wintershall, which will then be renamed as Wintershall DEA. Subject to approvals, the merger is expected for completion in 2Q2019. The JV will be headquartered in Kassel and Hamburg, Germany.