People & Business :: M&A
Borealis acquires stake in Bulgarian fertilizer producer Neochim
7:05 AM MST | December 23, 2013 | Natasha Alperowicz
Borealis (Vienna) announced today that it formed a joint venture with First Energy Bank (Manama, Bahrain) to buy a 20.3% stake in Neochim (Dimitrovgrad, Bulgaria). On 21 December, the jv, Feboran, purchased the stake in Neochim, a company listed on the Sofia Stock Exchange. Neochim is Bulgaria’s leading producer and distributor of fertilizers and accounts for a significant share of Bulgaria’s ammonium nitrate (AN) output. Financial details have not been disclosed. At Dimitrovgrad, in southern Bulgaria, Neochim operates an ammonia plant...
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