BASF raises € 1 Billion from divestment K+S shares

BASF raises € 1 Billion from divestment of K+S shares

3:56 PM, 8th June 2011
BASF raises € 1 Billion from divestment of K+S shares

LUDWIGSHAFEN, GERMANY: BASF SE has success­fully placed around 19.7 million shares of K+S Aktiengesellschaft (representing 10.3 per cent of the company’s share capital) with institutional investors at a price of € 50 per share. It was achieved through an accelerated book building transaction. The total proceeds of the transaction amount to approximately €1 billion. BASF achieved a capital gain before taxes of about €900 million from the sale, the company informed.

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