BASF and Shell Chemicals have completed the sale of their 50-50 joint venture Basell - one of the world’s leading manufacturers of polyolefins - to Nell Acquisition S.a.r.l., an affiliate of New York-based Access Industries. The sale price totals €4.4 billion, including debt. The relevant merger control approvals had already been granted.

Basell
Basell is headquartered in Hoofddorp, the Netherlands. The company has sales ac-tivities in more than 120 countries and operates production sites in 21 countries worldwide. Basell employs a workforce of 6,600 employees: about 5,200 in Europe and about 1,000 in North America. In 2004, Basell posted sales of €6.7 billion.

Basell is the world’s largest producer of polypropylene and advanced polyolefins, and is a leading supplier of polyethylene and catalysts. The company is a global leader in the development and licensing of polypropylene and polyethylene processes. These plastics are used in a wide number of applications, for example in the packaging and automotive industries and for consumer goods.

BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF’s intelligent solutions and high-value products help its customers to be more successful. BASF develops new technologies and uses them to open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. In 2004, BASF had ap-proximately 82,000 employees and posted sales of more than €37 billion. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF), Paris (BA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

Shell
Shell Chemicals collectively refers to the companies of the Shell Group engaged in the chemicals business. With a multibillion dollar turnover and major manufacturing facilities around the world, Shell Chemicals focuses on the production of bulk petro-chemicals and their delivery to large industrial customers. These products are widely used in plastics, coatings and detergents. For further information: www.shell.com/chemicals/news.

Access Industries
Access Industries, founded by company Chairman and President Len Blavatnik in 1986, is a privately held, US-based industrial holding company with investments worldwide. Access has long-term strategic interests in the oil, aluminium, coal and telecommunications sectors.

Contacts

BASF
Daniel Smith 
Corporate Media Relations 
Phone: +49 621 60-20829 
Fax: +49 621 60-92693                               
daniel.smith@basf-ag.de 
 

Shell
Lisa Givert
Shell Media Relations
Phone: +44 207 934 2914
Fax: +44 207 934 5252
lisa.givert@shell.com

Basell
Nick Nagurny 
Basell Corporate Communications
Phone: +1 215 682 7090                                    
nick.nagurny@basell.com    

Access Industries
Peter L. Thoren
Media Contact USA:
Phone: +1 212 247 6400
pthoren@accind.com

Access Industries
John Stonborough
Media contact UK:
Phone: +44 7771 893 683
jsmediaco@aol.com