Ciba Acquisition Now Perfect: BASF Starts Integration Process



    
    BASF holds 95.8 percent of Ciba shares after closing

    
    LUDWIGSHAFEN, Germany, April 9 /CNW/ -- 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. Jorg Buchmuller.
All three BASF managers were elected at the 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.
    

    About BASF
    
    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 euro 62 billion in 2008 and had approximately 97,000 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.
    



    




For further information:

For further information: Anna-Maria Diefenthal, +49-621-60-20829, or
Fax, +49-621-60-92693, anna-maria.diefenthal@basf.com, or Corporate Media
Relations, +49-621-60-20916, or Fax, +49-621-60-92693,
presse.kontakt@basf.com, both of BASF Web Site: http://www.basf.com

Organization Profile

BASF

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890