BASF SE, the largest chemicals company in Germany, is working on a bid for RWE DEA AG. DEA is the oil and gas exploration and production (E&P) unit of German electric utilities company RWE AG.
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RAG Foundation chief Werner Mueller said the state-owned trust looks to reduce its stake in German chemicals and plastics manufacturer Evonik Industries to about 25%. RAG currently owns two thirds of Evonik.
