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BASF, Shell to decide in December on Iran's NPC bid for Basell

Berlin, Oct 25, IRNA -- German chemical titan BASF and oil giant Royal Dutch Shell are to decide by the end of December on Iran's National Petrochemical Company (NPC) bid to buy plastics company Basell, the German edition of Financial Times (FTD) reported Monday.

Iran's NPC, two private equity consortia and a consortium headed by Bain Capitals were in the bidding to purchase Basell for three to four billion dollars.

According to the head of Basell, Volker Trautz, there are plans to narrow down the list of bidders to two or three by around Christmas or at the beginning of next year.

He pointed to "simultaneous negotiations with two or three bidders at the end".

Trautz would also not rule out "exclusive talks" with one bidder if the offer was significantly higher than the others.

The first round of bidding for Basell concluded two weeks ago and all presentations on Basell will be given two-weeks time as of November 1. Basell has annual sales of six billion euros and a workforce of some 6,500.

It remains the world's leading maker of polyolefins which are used in a variety of sectors, such as food, agriculture and auto industries.

... Payvand News - 10/25/04 ... --

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