BASF on lookout for acquisitions
GERMAN chemicals giant BASF is was looking for acquisitions in the agrochemicals sector after announcing second-quarter profits of 380m (£250m), down 50%.
It said it would be interested in “participating actively in any restructuring”.
BASF has a 6% market share in agrochemicals, making a merger possible without raising anti-trust issues.
Its agricultural division, which accounts for about 12% of group sales, bucked recent trends by performing well this quarter.
AstraZeneca said this week it was reconsidering its commitment to the agrochemicals sector.
- AstraZeneca to sell off ag-chems?, FWi, 04 August, 1999
- BASF seeks Japanese acquisitions, FWi, 21 April, 1999
- The Times 06/08/99 page 29
- The Independent 06/08/99 page 12 (Briefing)
- Financial Times 06/08/99 page 16 (Lex), page 18, page 24
- The Guardian 06/08/99 page 23
- The Daily Telegraph 06/08/99 page 35