EuroChem wants to buy nitrogen business from Borealis Group
EuroChem announced that it has entered exclusive negotiations to acquire the nitrogen business of the Borealis Group after having submitted a binding offer.
Borealis operates fertilizer production plants at the heart of important crop-producing regions in Austria and France. With more than 50 distribution points across Europe and around 4 million tonnes of products supplied annually in Western, Central and South East Europe via the Borealis distribution network, Borealis is one of Europe’s leading fertilizer producers.
“EuroChem is a global leader in the mineral fertilizer industry, with a significant presence in all major markets,” said EuroChem CEO Vladimir Rashevskiy. “The addition of the Borealis nitrogen business to our portfolio, once approved, will strengthen our foothold considerably in such a key market as Europe.”
The transaction must clear customary consultation procedures with Borealis’ employee representative bodies and usual regulatory approvals. It is valued at 455 million euro (enterprise value) and subject to certain closing conditions, with closing foreseen in the second half of 2022.