BASF Completes EUR500 Million Share Buyback Program and Plans to Repurchase Shares for a Further EUR500 Million
02 Novembre 2006 - 8:58AM
PR Newswire (US)
LUDWIGSHAFEN, Germany, November 2 /PRNewswire-FirstCall/ -- At the
end of October 2006, BASF (NYSE:BF) completed its EUR500 million
share buyback program that it announced in February 2006. Under the
program, a total of 7.9 million shares was bought back at an
average price of EUR63.11. The Board of Executive Directors of BASF
Aktiengesellschaft, Ludwigshafen, decided on November 2, 2006, to
continue with the company's share buyback program, and to
repurchase shares for a further EUR500 million. The buyback can
start immediately and is on the basis of the authorization decided
by the Annual Meeting on May 4, 2006. The aim of buying back shares
is to limit the equity ratio and increase earnings per share. The
shares will be cancelled, thus reducing the share capital of BASF
Aktiengesellschaft accordingly. BASF has reduced the number of
outstanding shares by about 22 percent between the start of the
share buyback program in 1999 and the end of October 2006. BASF is
the world's leading chemical company: The Chemical Company. Its
portfolio ranges from chemicals, plastics, performance products,
agricultural products and fine chemicals to crude oil and natural
gas. As a reliable partner to virtually all industries, BASF's
intelligent system solutions and high-value products help its
customers to be more successful. BASF develops new technologies and
uses them to open up additional market opportunities. It combines
economic success with environmental protection and social
responsibility, thus contributing to a better future. BASF has over
95,000 employees and posted sales of more than EUR42.7 billion in
2005. BASF shares are traded on the stock exchanges in Frankfurt
(BAS), London (BFA), New York (BF) and Zurich (AN). Further
information on BASF is available on the Internet at
http://www.basf.com/. Daniel Smith Phone: +49-621-60-20829 Fax:
+49-621-60-92693 BASF Aktiengesellschaft 67056 Ludwigshafen,
Germany http://www.basf.com/ Corporate Media Relations Phone:
+49-621-60-20916 Fax: +49-621-60-92693 DATASOURCE: BASF AG CONTACT:
Daniel Smith, Phone: +49-621-60-20829, Fax: +49-621-60-92693,
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