Home / Knowledge / News / Textiles / BASF comes closer to acquiring Ciba
BASF comes closer to acquiring Ciba
03
Dec '08
BASF has come a step closer to acquiring Ciba. At the Extraordinary Meeting of Shareholders of Ciba Holding AG held today in Basel, Switzerland, the voting rights and registration restrictions in the articles of association of Ciba Holding AG were removed with effect as of the settlement date.

At the same time, three representatives of BASF – Dr. Hans-Ulrich Engel, Hans-Walther Reiners and Dr. Jörg Buchmüller – were elected to Ciba's Board of Directors. The election is also effective as of the settlement date.

All current members of Ciba's Board of Directors will resign as of the settlement date. The motions were approved by significantly more than 90 percent of the share capital represented. As a result, further conditions of BASF's public tender offer have been fulfilled. The completion of the transaction is still subject to approval by the relevant antitrust authorities, which is expected in the first quarter of 2009.

From tomorrow (December 3) until the settlement date, the tendered Ciba shares can be traded on a second trading line of the SIX Swiss Exchange. The shares remain tendered. On the settlement date, they are automatically transferred to BASF against payment of the offer price of CHF 50.00 irrespective of the share owner on that date. The transfer of shares to BASF and the payment of the offer price will take place on the settlement date.

All information about BASF's offer, including the offer prospectus, is available on the Internet at www.basf-info.com.

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 €58 billion in 2007.

BASF


Must ReadView All

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Polyester yarn price surge affects Surat textile industry

Textiles | On 22nd May 2018

Polyester yarn price surge affects Surat textile industry

The prices of polyester yarn have increased about 12-15 per cent in...

Courtesy: Myntra

Fashion | On 22nd May 2018

Myntra to launch exclusive red carpet line at IIFA 2018

India’s leading destination for fashion online, Myntra, is all set to ...

Interviews View All

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search