BASF completes acquisition of Pronova BioPharma
- BASF holds 98.19% of Pronova shares after closing
- Squeeze out to be implemented within the next days
Ludwigshafen, Germany – January 31, 2013 – BASF [Frankfurt: BAS, LSE: BFA, SWX: AN] has completed the acquisition of Pronova BioPharma ASA, Lysaker, Norway, [OBX: PRON], which closed today with the payment of the offer price to Pronova shareholders. At the same time, the tendered shares were transferred to BASF. The company now holds 98.19% of Pronova.
In accordance with the Norwegian Public Limited Liability Companies Act section 4-25 and the Securities Trading Act section 6-22, BASF is setting up a compulsory acquisition process (squeeze out) in order to acquire the remaining shares belonging to minority shareholders of Pronova. BASF AS is offering NOK 13.50 per share as the offer price, which is equal to the offer price in the voluntary offer made by BASF. We expect the squeeze out to be implemented within the next days.
BASF will fully integrate Pronova into its Nutrition & Health division and Pronova will become a key part of BASF’s omega-3-business.
This release is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. This release has been prepared by BASF. No representation or warranty (express or implied) of any nature is given, nor is any responsibility or liability of any kind accepted, with respect to the truthfulness, completeness or accuracy of any information, projection, statement or omission in this release. This release does not constitute, nor does it form part of, any offer or invitation to buy, sell, exchange or otherwise dispose of, or issue, or any solicitation of any offer to sell or issue, exchange or otherwise dispose of, buy or subscribe for, any securities. This release does not constitute investment, legal, tax, accountancy or other advice or a recommendation with respect to such securities, nor does it constitute the solicitation of any vote or approval in any jurisdiction. There shall not be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such jurisdiction (or under exemption from such requirements).
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees 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.