MUMBAI, July 17 /PRNewswire/ -- BASF SE today announced that it has revised its offer price for shares in BASF India, to Rs. 300 per share. The revised price provides a compelling premium of 26.7 percent above the minimum price directed by the Securities and Exchange Board of India (SEBI), 33.4 percent above the average share price for the two weeks preceding the date of the original announcement. BASF SE will pay the revised offer price for all the equity shares validly tendered any time during the offer if accepted under the offer. In line with current regulations, this represents the final revision of the offer.
In May 2008, BASF SE announced that it intended to acquire 22.31 percent of shares in BASF India Limited, through a public tender offer to shareholders, at a price of Rs. 274 per share. This would raise its holdings to a maximum of 75 percent, from its current holding of 52.69 percent. According to the public announcement, the offer began on July 9, 2008 and shareholders have until July 28, 2008 to tender their stock.
BASF India Ltd., which is traded on the Mumbai Stock Exchange and National Stock Exchange of India (Mumbai), posted sales of INR10,536.4 million in the business year ended March 31, 2008. The main chemical markets for BASF in India are agrochemicals, plastics, leather and textile chemicals.
About BASF
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. 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 has more than 95,000 employees and posted sales of almost EUR58 billion in 2007. Further information on BASF is available on the Internet at http://www.basf.com.
Genevieve Hilton (Hong Kong) Phone: +852-2731-0197 Fax: +852-2731-5645 genevieve.hilton@basf.com Stella Chiu (Hong Kong) Phone: +852-2731-1228 Fax: +852-2734-9645 ngachi-stella.chiu@basf.com Michael Grabicki (Germany) Phone: +49-621-60-99938 Fax: +49-621-60-92693 michael.grabicki@basf.com Corporate Media Relations Phone: +49-621-60-20916 Fax: +49-621-60-92693 presse.kontakt@basf.com BASF SE 67056 Ludwigshafen, Germany Phone: +49-621-60-0 http://www.basf.com
Genevieve Hilton (Hong Kong), Phone: +852-2731-0197, Fax: +852-2731-5645, genevieve.hilton@basf.com; Stella Chiu (Hong Kong), Phone: +852-2731-1228, Fax: +852-2734-9645, ngachi-stella.chiu@basf.com; Michael Grabicki (Germany), Phone: +49-621-60-99938, Fax: +49-621-60-92693, michael.grabicki@basf.com; Corporate Media Relations, Phone: +49-621-60-20916, Fax:: +49-621-60-92693, presse.kontakt@basf.com; BASF SE, 67056 Ludwigshafen, Germany, Phone:+49-621-60-0
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