BASF announces new share buyback program
BASF plans to repurchase shares for €3 billion until mid-2010 /€3 billion share buyback program for 2007 and 2008 completed ahead of schedule
The aim of buying back shares is to optimize BASF's capital structure and to increase earnings per share. The shares will be canceled, thus reducing the share capital of BASF SE accordingly.
BASF completed its €3 billion share buyback program for 2007 and 2008 ahead of schedule. This program was announced in February 2007. From the beginning of 2007 until June 17, 2008 BASF bought back shares for €3 billion. A total of approximately 33.7 million shares were repurchased at an average price of €88.91. This corresponds to 7.1 percent of BASF SE's current share capital. The repurchased shares have already been canceled or will be canceled in 2008.
BASF Coatings GmbH
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost ?58 billion in 2007. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.