Borealis Group terminated negotiations with EuroChem

The management of the Austrian Borealis Group decided to reject EuroChem’s offer to buy its nitrogen business and stopped negotiations with the Russian company.

“We have carefully studied the latest events with Ukraine and the imposed sanctions,” said Thomas Gangl CEO of Borealis Group. “We have decided to reject EuroChem’s offer to acquire the nitrogen business of Borealis Group.”

Borealis Group will look for alternative options for the future of its nitrogen business. The company owns nitrogen fertilizer production facilities located in Austria and France and over 50 nitrogen fertilizer sales offices throughout Europe.

Earlier, the information and analytical service of Fertilizer Daily admitted the possibility of terminating negotiations between Borealis Group and EuroChem due to sanctions against its owner Andrey Melnichenko by the authorities of the European Union. Thus, their predictions have come true.

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