BASF's shareholders approve proposal to change company to SE |
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Published
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Thu, 26 Apr 2007 16:47
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FRANKFURT (Thomson Financial) - BASF AG said shareholders have approved a proposal from the board of directors and the supervisory board to change it into a European company with the name BASF SE.The company's headquarters and main administrative offices will remain in Ludwigshafen, Germany, BASF said in a statement.Chief executive Juergen Hambrecht said: 'This move gives BASF a pioneering role in the European chemical industry.'Societas Europaea status provides a common pan-European form of incorporation for international companies operating throughout the European Economic Area and makes it easier to manage cross-border acquisitions and divestments.krysia.diver@thomson.comkd/wjCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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