BASF Sells Fertilizer Business to EuroChem for €700 million

BASF has signed a contract with EuroChem (Moscow) to sell its fertilizer activities at Antwerp. BASF also plans to sell its 50% stake in PEC-Rhin (Ottmarsheim, France) joint venture to EuroChem. The total transaction value is expected to be approximately €700 million ($945 million), BASF says. It is expected to close by the end of the first quarter of 2012. The fertilizer business that is being sold has a total capacity of 2.5 million m.t./year with about 80% of that based in Antwerp.   The Antwerp business that is being sold includes plants...

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