World's largest chemical company in term of sales, BASF from Germany is all set to take over the Norway's Pronova BioPharma PRON.

Pronova is currently a leading supplier of omega-3 fatty acids which will now be bought by the German based BASF. The deal will be valued $844 million that mounts to 4.85 billion Norwegian kroner.

As described by BASF, Pronova is the leader in research, development and manufacturing the omega-3 fatty acids. The market of these acids is growing since they are very much beneficial for health.

The deal is expected to close within the first three months next year. The chemical giant BASF anticipates a good future in the field of omega-3 fatty acids. Fatty acids are believed to be beneficial for the cardiovascular system of humans.

BASF made an official announcement this Wednesday that it aims to be the number one in the production of omega-3 fatty acids. "Due to this acquisition BASF should become the leading producer in the fast growing market for concentrated omega-3 fatty acids and cover the entire range of the omega-3 fatty acids", said an analyst, Nadeshda Demidova from Equinet Bank.

Critics see the purchase amount as really small since Pronova's turnover was summed up to _230 million the previous year.