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Categories: Mergers and Acquisitions

BASF CFO Says Still Seeks Acquisitions to Grow

Source: Reuters
21/08/2008

Franfurt, Aug 21 - Germany's BASF is still seeking opportunities to grow via acquisitions but would not put its rating at risks, its finance head said on Wednesday.

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"You aren't simply giving up your rating," Kurt Bock said at a Center for Financial Studies (CFS) event. "We'll do the right thing when we see the right one."

Standard & Poor's rates BASF AA- with a stable outlook -- the highest among European chemical companies.

BASF had said it could make any kind of acquisition that meets its strict criteria thanks to its first-class rating and solid finances. It had also said it could spend up to 10 billion euros ($15 billion) on acquisitions.



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