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Sibur Sells Fertilizer Business for a Reported $1 Billion (Update)

8:18 AM MST | December 21, 2011 | Natasha Alperowicz

Sibur Holding says it has sold its fertilizer production business to Siberian Business Union (Kemerovo, Russia). Sibur has previously said that fertilizers and tires are non-core activities and that it intends to concentrate on petrochemicals. Sibur declined to say how much it raised from the sale but the Russian Vedomosti newspaper put a $1 billion value on the deal. Sibur has sold two of three of its fertilizer production sites, Kemerovo and Angarsk, and kept the Perm fertilizer production unit. Sibur is in talks to sell the Perm unit to Uralchem...

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