“The acquisition will strengthen BASF’s and Pronova’s position in the market for omega-3 fatty acids,” said Michael Heinz, member of the Board of Executive Directors of BASF SE and responsible for the Performance Products segment, which includes the Nutrition & Health division.
Pronova’s active pharmaceutical ingredients are used to treat cardiovascular diseases such as post-myocardial infarction. In nutritional applications, including dietary supplements, there is a strong body of evidence supporting a broad range of positive health benefits through omega-3 fatty acids, for example, in the areas of cognitive development or heart health.
“We aim to combine Pronova’s strong expertise and good position in the market for omega-3 fatty acids with BASF’s worldwide market presence and technical know-how. We are looking forward to working closely with Pronova’s employees in order to form the best team,” said Heinz. A detailed integration plan will be developed in a discovery phase after closing.
All regulatory approvals required for completion of the voluntary offer have been obtained. The next step in the acquisition process will be the settlement of the offer within the following 14 days. The transfer of shares to BASF and the payment of the offer price will take place on the settlement date (closing). BASF is setting up a compulsory acquisition process in order to acquire the remaining shares after closing (squeeze out). BASF expects to finalize the transaction within the next weeks.