Chemical Week Magazine :: Business & Finance :: Europe/Mideast
BASF Sells Fertilizer Assets to EuroChem for €700 Million
9:29 AM MDT | October 7, 2011 | —NATASHA ALPEROWICZ
Strezhnev: Increasing global market share. BASF says it plans to sell its fertilizer activities at Antwerp, and its 50% stake in the PEC-Rhin fertilizer joint venture at Ottmarsheim, France to EuroChem (Moscow) for about €700 million ($945 million). The deal is expected to close by the end of the first quarter of 2012. EuroChem will acquire a combined 2.5 million m.t./year of fertilizer capacity, of which about 80% is at BASF’s Antwerp complex. The other 50% of PEC-Rhin is owned by Total’s GPN subsidiary. The Antwerp assets included in the sale...
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