BASF has successfully completed its acquisition of Ciba Holding AG, which closed April 9, 2009 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. Jörg Buchmüller. 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 discove
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