EuroChem May Acquire Fertilizer Unit From BASF, Interfax Reports
OAO EuroChem, Russia’s largest producer of nitrogen fertilizers, may buy BASF SE (BAS)’s fertilizer plant in Antwerp, Belgium, Interfax reported, citing a person it didn’t identify.
BASF, based in Ludwigshafen, Germany, offered the bulk of its fertilizer assets for sale in February as it shifts to less cyclical products. The chemicals company is poised to sell most of its nitrogen fertilizer assets to Yara International ASA (YAR), two people with knowledge of the plan said last week.
EuroChem’s billionaire Chairman Andrey Melnichenko said today that the Russian company may close a deal to buy a “large” fertilizer unit in Europe by the end of September, according to Interfax.
To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net
To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net
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