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Ludwigshafen, Germany
April 9, 2009
BASF has successfully completed
its acquisition of Ciba Holding AG, which closed today with the
payment of the offer price to Ciba shareholders. At the same
time, the tendered shares were transferred to BASF. The company
now holds 95.8 percent of Ciba. Ciba shares that were not
tendered as part of the public offer can be traded on the SIX
Swiss Exchange until further notice.
As of closing, BASF Board member Dr. Hans-Ulrich Engel has
become Chairman of Ciba’s Board of Directors, the company’s
senior supervisory body. Further members of this body are
Hans-Walther Reiners and Dr. Jörg Buchmüller. All three BASF
managers were elected at t he Extraordinary Meeting of
Shareholders of Ciba Holding AG held in Basel, Switzerland, in
December 2008. All previous members of Ciba’s Board of Directors
have resigned.
BASF intends to fully integrate Ciba into the BASF Group. The
integration process will start with a “Discovery Phase”. During
this phase, joint teams consisting of BASF and Ciba employees
will analyze the acquired businesses in depth. The goal of the
analysis is to define a market-oriented positioning for the
combined businesses as well as the optimal organizational
structure. The actual integration process will start in July
2009 on the basis of these results.
BASF is the world’s leading chemical company: The Chemical
Company. Its portfolio ranges from chemicals, plastics and
performance products to agricultural products, fine chemicals as
well as oil and gas. As a reliable partner BASF helps its
customers in virtually all industries to be more successful.
With its high-value products and intelligent solutions, BASF
plays an important role in finding answers to global challenges
such as climate protection, energy efficiency, nutrition and
mobility. BASF posted sales of more than €62 billion in 2008 and
had approximately 97,000employees as of the end of the year.
BASF shares are traded on the stock exchanges in Frankfurt
(BAS), London (BFA) and Zurich (AN). Further information on BASF
is available on the Internet at
www.basf.com. |
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