029 Group SE

Related Party Transaction • Mar 8, 2006

News Details

Ad-hoc | 8 March 2006 17:01

Celanese AG: Celanese to reorganize chemical activities in China

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Celanese will reorganize its Chemical Products segment activities in China to enable a more efficient entity structure. As a consequence of an instruction received today from Celanese Europe Holding GmbH & Co. KG based on the existing domination and profit and loss transfer agreement with Celanese AG, Celanese Holding GmbH will transfer the shares in Celanese (China) Holding Co. Ltd., which will first acquire the shares in Celanese Nanjing Chemical Co. Ltd., to BCP Crystal US Holdings Corp. The transaction, subject to regulatory approval by the Chinese authorities, will be effected at the book values of Celanese China Holding of approximately €7.7 million and of Celanese Nanjing Chemical of around €10.6 million. Construction of acetic acid, vinyl acetate monomer (VAM) and emulsions production plants by Celanese Nanjing Chemical Co. Ltd. at the Nanjing site is currently underway or in planning. The plants are to be commissioned in 2007/2008. Both Celanese AG and BCP Crystal US Holdings Corp. are indirect subsidiaries of Celanese Corporation. Celanese Holding GmbH is a subsidiary of Celanese AG. (c)DGAP 08.03.2006 ————————————————————————— language: English emitter: Celanese AG Frankfurter Str. 111 61476 Kronberg im Taunus Deutschland phone: +49 (0)69 305 16000 fax: +49 (0)69 305 16006 email: M.Kraft@celanese.com WWW: www.celanese.com ISIN: DE0005753008 WKN: 575300 indexes: stockmarkets: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————