Hengeler Mueller successfully defends BASF in another post-M&A proceeding against three-digit million purchase price adjustment claims

Following the dismissal of three-digit million euros damage claims in February (see press release dated February 23, 2026, link), Hengeler Mueller has achieved a further success for BASF SE, a leading global chemical company, in another post-M&A proceeding. This proceeding concerned the buyer’s claims for purchase price adjustment, initially amounting to approximately EUR 208 million.

The overwhelming majority of the claims for purchase price adjustment were dismissed as unfounded in expert determination proceeding following several days of oral hearings, including expert testimony. The expert determination proceedings were preceded by a multi-year arbitration (DIS) involving extensive taking of evidence, in which the arbitral tribunal ruled on the jurisdiction of the expert determiner as well as on preliminary legal issues regarding the purchase price adjustment claims.

The Hengeler Mueller team was again led by Carsten van de Sande and Johanna Wirth. Dr. Christian Folter (Head of Legal Business) and Christoph Tjiang (Corporate M&A) acted as lead counsel for BASF.

 Hengeler Mueller team for BASF

Dispute Resolution/International Arbitration: Carsten van de Sande (Frankfurt), Johanna Wirth (both partner, both lead), Yasemin Jüngling (both Berlin), Kristina Große, Johanna Peters (both Frankfurt, all counsel), Svitlana Gapalo (Munich), Lina Luyken (Berlin, both senior associate), Kathrin Hüttmann (Frankfurt), Maximilian Offinger (Berlin), Benno Schwanzer (Frankfurt), Timothy Fuchs (Berlin, all associate).