BASF buys back 4.8% shares in 2005

12-Jan-06

With the aim of buying back shares to reduce the equity ratio and increase earnings per share, BASF had planned a share buy back. Under the €1.5 billion share buyback program announced in April 2005, BASF bought back 4.82% shares of the company, totalling to 26.06 million shares in 2005. At an average price of €55.05, BASF paid €1,435 million. The company plans to complete the ongoing program in Q1-2006. In the third and fourth quarter of 2005, BASF was temporarily unable to buy back shares: Buybacks were prohibited under the terms of the German Securities Trading Act (WpHG) due to non-public information related to the creation of a contractual trust arrangement (CTA), the interest in acquiring Degussa's construction chemicals business, and the planned cash offer to acquire Engelhard Corporation.