Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sibur to Sell Fertilizer Assets to Siberian Business Union

Don't Miss Out —
Follow us on:

Dec. 21 (Bloomberg) -- Sibur Holding, controlled by billionaires Gennady Timchenko and Leonid Mikhelson, agreed to sell fertilizer assets to Siberian Business Union, Russia’s third-largest producer of coal for power stations.

The deal will come up for approval at the next board meeting, Sibur, Eastern Europe’s biggest petrochemicals producer, said today in an e-mailed statement. The assets include OAO Azot in the coal-producing Kemerovo region and the Angarsk nitrogen fertilizer plant, both in Siberia, Sibur and the buyer, known by its Russian initials SDS, said in separate statements.

The deal was valued at as much as $1 billion, Vedomosti reported yesterday, citing people it didn’t identify. Ammonium nitrate is used in mining as well as fertilizers.

Uralchem, Russia’s second-largest producer of nitrogen fertilizers, is in talks to buy 51 percent of OAO Perm Mineral Fertilizer from Sibur to help double urea production, Uralchem Chief Executive Officer Dmitry Konyaev said separately today. Uralchem values the Perm unit, which wasn’t included in Sibur’s deal with SDS, at $550 million.

To contact the reporters on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net; Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.