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Sibur to Sell Fertilizer Assets to Siberian Business Union

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.