FORBES: BASF, Shell Chemicals Wrap Up Basell Sale
“BASF AG and Royal Dutch Shell PLC said Monday they had completed a deal to sell their Basell NV plastics joint venture in a euro4.4 billion (US$5.32 billion) deal…”
Monday 1 August 2005
BASF AG and Royal Dutch Shell PLC said Monday they had completed a deal to sell their Basell NV plastics joint venture in a euro4.4 billion (US$5.32 billion) deal to Nell Acquisition, part of privately held Access Industries.
The deal, announced in May, received regulatory approval in Europe and the United States. The Chatterjee Group, a private investment group, had been part of the deal to buy the business but pulled out last month.
Basell was formed as a joint venture in 2000 so that Shell Chemicals and BASF could consolidate their polyolefins businesses across the world and announced plans to review its options in 2004.
The Hoofddorp, Netherlands-based company is the world’s biggest producer of polypropylene, which is used in making bottles, food and beverage packaging, grocery bags and toys. It operates production facilities in 21 countries and employs 6,600 workers, with 5,200 of them in Europe, and about 1,000 in North America.
Last year, Basell posted sales of euro6.7 billion (US$8.1 billion) .
Shares in BASF AG rose half a percent to euro58.91 (US$71.24) in Frankfurt trading, while Shell’s A shares gained 1.3 percent to 1,770 pence (euro25.64: US$31.11) in London.
Access Industries is a U.S.-based industrial holding company with interests in the oil, aluminum, coal and telecommunications industries.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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