Deutsche Bank today announced its appointment as the successor depositary bank for the Level I American Depositary Receipt (ADR) program of BASF SE (BASF).
BASF is the world’s largest chemical company.* Its portfolio ranges from chemicals, plastics, performance products, functional solutions and crop protection products to oil and gas. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year.**
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank, said, “We are pleased to have been appointed depositary by BASF, one of the most prestigious global companies, and we look forward to supporting their best-in-class investor relations team in meeting its objectives."
*Based on 2011 revenues
**Source: BASF SE (October 2012)