April 3, 2012
BASF completes fertiliser operations disposal to EuroChem
After securing all needed regulatory approvals, the disposal of fertilisers operations in Antwerp, Belgium, to Russian agrochemical firm EuroChem for some EUR830 million (US$1.1 billion) has been finalised by German chemical group BASF, it said on Monday (Apr 2).
The price includes a deferred payment of around EUR130 million (US$173.5 million) to be provided between 2013 and 2016, the vendor said in a press release, adding it expected a pre-tax gain of some EUR600 million (US$800.6 million) from the sale.
The deal, wrapped up on March 31 as planned, involves plants for CAN/AN fertilisers, NPK fertilisers and nitro phosphoric acid as well as three related nitric acid plants, combining around 300 employees.
EuroChem said in the same statement that the deal was serving its strategy to gain a bigger share of the global fertiliser market via acquisitions and organic projects.