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07-02-2007

Basell to Acquire Huntsman

Basell, Hoofddorp, The Netherlands, and Huntsman Corporation, Salt Lake City, Utah, USA announced that they have signed a definitive agreement pursuant to which Basell will acquire Huntsman in a transaction valued at approximately USD 9.6 billion, including the assumption of debt. Under the terms of the agreement, Basell will acquire all of the outstanding common stock of Huntsman for USD 25.25 per share in cash.

The transaction was unanimously approved by the Boards of Directors of both Basell and Huntsman. Huntsman’s Board of Directors approved the transaction agreement at the recommendation of a Transaction Committee comprised of Huntsman independent directors.

The transaction is subject to customary closing conditions, including regulatory approval in the U.S. and in Europe, as well as the approval of Huntsman shareholders. Closing is expected in the fourth quarter of 2007.

The combined company will have an extensive geographic footprint, with operations on all continents of the world, and will be well positioned in fast-growing markets such as China, India, Eastern Europe and Latin America. In 2006, Basell and Huntsman had combined revenues of more than USD 26 billion and employed approximately 20,900 people.

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