Sibur Divests Fertilizer Business

Sibur (Moscow) has announced the sale of its fertilizer business in separate deals to Siberian Business Union (Kemerovo, Russia) and Uralchem (Moscow). The transactions form part of Sibur’s previously announced strategy to focus on petrochemicals. The company declined to comment on how much it will raise from the divestment but Russian press reports estimate the combined value of the transactions at up to $1.5 billion. Sibur has sold two of its three fertilizer production sites, at Angarsk, Russia and Kemerovo to Siberian Business Union and agreed to sell a...

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