Sibur agrees to sell fertilizer assets to Siberian Business Union

21 December 2011 17:37  [Source: ICIS news]

(ICIS)--Sibur has agreed to sell its fertilizer assets to holding company Siberian Business Union, the Russian major petrochemical holding company said on Wednesday.

Sibur will sell a 100% stake in its fertilizer business, SIBUR-Fertilizers, it said.

The assets being transferred consist of OAO Azot in Kemerovo and the Angarsk Nitrogen Fertilizer Plant, both in Siberia, as well as Biysk Railcar Repair Enterprise.

However, the company said its Mineral Fertilizer asset in Perm is not included in the sale.

The deal is to be approved during the nearest board of directors meeting, it added.

Sibur said fertilizers is a non-core businesses for the company, and it is selling the assets to focus on its main business, petrochemistry.

Sibur declined to say how much it raised from the sale.

SBU is involved in coal mining, engineering and transportation.

For more on Sibur visit ICIS company intelligence

By: Leigh Stringer
+44 208 652 3214

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