BASF confirms its offer to acquire all of the issued and outstanding shares of Pronova BioPharma, and is increasing its cash offer price to NOK 13.50 per share (previously NOK 12.50). The offer period expires at 16:30 CET on January 18, 2013 and will not be extended.

The increased offer corresponds to a premium of 34% above the volume-weighted average share price for Pronova's shares in the six months prior to announcement of the public takeover offer. Based on all outstanding shares and including all net financial liabilities, the enterprise value would be NOK 4,996 million (approximately €684 million).

All regulatory approvals required for completion of the voluntary offer have been obtained. The offer is subject to fulfillment of all further relevant offer conditions, set out in the offer document published on December 5, 2012, including inter alia that shareholders shall in the aggregate have accepted the offer for a number of shares representing more than 90% of the total share capital of Pronova.

BASF expects closing of the offer in the first quarter of 2013.