Key Developments: BASF SE (BASFn.DE)

BASFn.DE on Xetra

23 Dec 2014
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Latest Key Developments (Source: Significant Developments)

BASF SE says Jurgen Hambrecht elected as new chairman of Supervisory Board
Friday, 2 May 2014 12:27pm EDT 

BASF SE:Says, in its constitutive meeting, the new Supervisory Board of BASF SE has elected Jurgen Hambrecht as its new chairman.Hambrecht thus succeeds Eggert Voscherau, who took over as chairman following the Annual Shareholders’ Meeting 2009 and who was no longer available for re-election by the Annual Shareholders’ Meeting.  Full Article

BASF SE to sell plant in Norway and to cut about 260 positions worldwide in nutrition and health division by end of 2015 - Reuters
Friday, 25 Apr 2014 07:11am EDT 

BASF SE:Is taking steps, including sale of omega-3 fatty acids plant in Norway, to make its Performance Products business more competitive - Reuters.Would cut about 260 jobs in production, marketing and administration around world by end of 2015 as part of measures.  Full Article

BASF SE to build new plant for specialty amines in Ludwigshafen
Tuesday, 15 Apr 2014 08:00pm EDT 

BASF SE:Builds new plant for production of specialty amines in Ludwigshafen.Start-up of facility with total annual capacity of about 12,000 metric tons scheduled for 2015.Product range of plant comprises 15 amines for different applications.Major applications are in construction, automotive, crop protection and pharmaceutical industries.With this new facility, BASF is expanding global production network of amines with plants in Ludwigshafen and Schwarzheide in Germany; Antwerp, Belgium; Geismar, Louisiana; and Nanjing, China.  Full Article

BASF SE subsidiary inge GmbH enters into long-term cooperation agreement with Aquasource
Thursday, 3 Apr 2014 08:00pm EDT 

BASF SE:Says subsidiary inge GmbH, and Aquasource, supplier of membrane systems, have agreed to enter into strategic cooperation effective April 1.Says each company to be focusing on their respective competences.Aquasource to choose inge patented Multibore membranes for all types of water, where UF in-to-out technology is suitable.Within this cooperation, inge to concentrate on development and production of UF membranes.Both partners target to combine technologies to provide customers with even better solutions.  Full Article

BASF SE to propose dividend for fiscal year 2013 - Reuters
Thursday, 20 Feb 2014 05:19am EST 

BASF SE:Will propose full year dividend of 2.70 euro per share for FY 2013 - Reuters.Previous year's dividend 2.60 euro per share.  Full Article

Gazprom OAO and BASF SE's Wintershall sign asset swap agreement
Monday, 23 Dec 2013 10:30am EST 

Gazprom OAO:Says the main agreement on exchange of assets between Gazprom and BASF SE's wholly owned subsidiary, Wintershall Holding GmbH (Wintershall), has been signed.Says as a result of the agreement Gazprom will increase its stake to 100 percent in joint gas trade and storage companies in Europe, WINGAS GmbH (WINGAS), Wintershall Erdgas Handelshaus GmbH & Co. KG (WIEH) and Wintershall Erdgas Handelshaus Zug AG (WIEE).Says it will also get a 50 percent stake in Wintershall Noordzee BV (WINZ), a company that explores for and produces hydrocarbons in the North Sea.Says Wintershall, in turn, will get a 25.01 percent economic stake in the project to develop sections 4A and 5A of the Achimov deposits of the Urengoy oil and gas condensate field.Says on Dec. 4 the agreement was approved by the European Commission.  Full Article

BASF SE Gets 71% Stake In Verenium Corp After Takeover Offer - Reuters
Thursday, 31 Oct 2013 11:43am EDT 

Reuters reported that BASF SE on October 31, 2013 said 71% of shareholders in Verenium Corp had accepted its $4 per share cash takeover offer. Based on all outstanding shares and including all net financial liabilities, the enterprise value of Verenium would be approximately $62 million, BASF said. BASF will start with the integration of Verenium in the first quarter of 2014.  Full Article

BASF SE to Cut 140 Jobs in Alsace, France-Reuters
Tuesday, 22 Oct 2013 08:00pm EDT 

Reuters reported that BASF SE is to cut 140 jobs out of 242 at its factory in Huningue (Haut-Rhin) in France's Alsace region.  Full Article

Yara International ASA And BASF SE Mull Joint U.S. Ammonia Plant-Reuters
Friday, 18 Oct 2013 02:14am EDT 

Reuters reported that BASF SE and Yara International ASA may invest in a world scale ammonia plant around the U.S. Gulf Coast, Yara said in a statement. The details of the potential investment, including its size, cost and location, are under discussion, Yara added.  Full Article

BASF SE's Subsidiary Commences Tender Offer To Verenium Corporation's Shareholders
Wednesday, 2 Oct 2013 06:17am EDT 

BASF SE announced that its U.S. affiliate, BASF Corporation, is commencing a tender offer for the acquisition of Verenium Corporation, San Diego, California, at a cash offer price of USD4.00 for each Verenium share. The offer period is scheduled to start on October 31, 2013, unless otherwise extended or terminated. The offer price corresponds to a premium of 56% above the volume-weighted average share price for Verenium's shares in the six months prior to the first announcement of the transaction. BASF Corporation's subsidiary, Pastinaca Acquisition Inc., is filing a Tender Offer Statement with the United States Securities and Exchange Commission (SEC) on October 2, 2013. Additionally, Verenium is filing a Solicitation/Recommendation Statement with the SEC on October 2, 2013 . This filing includes the recommendation of the Verenium board of directors that Verenium's stockholders tender their shares in the tender offer. Following the completion of the tender offer, BASF expects to consummate a merger in which the remaining Verenium stockholders will receive the same cash price per share as in the tender offer. The tender offer and merger are subject to customary closing conditions, including the acquisition by Pastinaca of at least a majority of the Verenium shares in the tender offer.  Full Article


BASF, Gazprom cancel gas asset swap as Russian crisis intensifies

FRANKFURT - German chemicals group BASF SE and Russia's Gazprom have abandoned a gas assets swap deal planned for this year as companies across Europe continue to suffer from growing tensions between Moscow and the West.

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