IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

BASF completes acquisition of Pronova BioPharma

4:11 AM MST | January 31, 2013 | Deepti Ramesh

BASF says it has completed the previously announced acquisition of Pronova BioPharma (Lysaker, Norway), a pioneer in the fields of researching, developing, and manufacturing omega-3 fatty acids. BASF now holds 98.19% of Pronova. The acquisition closed today with the payment of the offer price to Pronova shareholders; the tendered shares were transferred to BASF. BASF is setting up a compulsory acquisition process, or a squeeze-out, in order to acquire the remaining shares belonging to minority shareholders of Pronova. BASF is offering Norwegian kroner 13.50/share...

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