K+S to Sell Nitrogen Fertilizer Distribution Unit to EuroChem

K+S AG, Europe’s biggest potash distributor, agreed to sell its nitrogen fertilizer distribution unit to OAO EuroChem in a transaction that values the business at about 140 million euros ($182 million).

K+S anticipates closing the sale of K+S Nitrogen by the end of the second quarter, depending on approval from European Union regulatory authorities, the Kassel, Germany-based company said in an e-mailed statement.