Russia’s EuroChem completes acquisition of BASF’s fertilizer assets

02 April 2012 09:11  [Source: ICIS news]

SINGAPORE (ICIS)--BASF has completed the sale of its fertilizers activities in Antwerp, Belgium, to Russian producer EuroChem as of 31 March, the German chemicals major said on Monday.

The appropriate anti-trust authorities have given their approval for the transaction, and the total purchase price amounts to around €830m ($1.11bn), including a deferred part of circa €130m payable over the period 2013 to 2016, BASF said in a statement.

The scope of transaction includes plants producing calcium ammonium nitrate/ammonium nitrate (CAN/AN) fertilizers, Nitrophoska fertilizers and nitrophosphoric acid, as well as three related nitric acid plants and will be carved into a separate company, now named EuroChem Antwerpen NV, BASF said.

In late September last year, BASF first announced that it will sell its fertilizer operations in Antwerp, Belgium and in Ottmarsheim, France to EuroChem.

($1 = €0.75)

By: Samuel Wong

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