BASF completes acquisition of Pronova BioPharma

BASF [Frankfurt: BAS, LSE: BFA, SWX: AN] has completed the acquisition of Pronova BioPharma ASA, Lysaker, Norway, [OBX: PRON], which closed today with the payment of the offer price to Pronova shareholders. At the same time, the tendered shares were transferred to BASF. The company now holds 98.19% of Pronova.

In accordance with the Norwegian Public Limited Liability Companies Act section 4-25 and the Securities Trading Act section 6-22, BASF is setting up a compulsory acquisition process (squeeze out) in order to acquire the remaining shares belonging to minority shareholders of Pronova. BASF AS is offering NOK 13.50 per share as the offer price, which is equal to the offer price in the voluntary offer made by BASF. We expect the squeeze out to be implemented within the next days.

BASF will fully integrate Pronova into its Nutrition & Health division and Pronova will become a key part of BASF’s omega-3-business.