Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics, has received a binding offer from EuroChem for the acquisition of Borealis’ nitrogen business including fertilizer, melamine and technical nitrogen products. The offer values the business on an enterprise value basis at EUR 455 million.
EuroChem is a leading global fertilizer producer, and one of only three companies worldwide with manufacturing capacity in all three primary nutrient groups: nitrogen, phosphates and potash. A vertically integrated company, EuroChem is expanding its production and distribution capacities in key regions around the world. The group has key manufacturing facilities in Russia, Belgium, Kazakhstan, and Lithuania, employing more than 27,000 people in 40 countries, and with a product reach of more than 100 countries.
The transaction would significantly enhance EuroChem’s nitrogen business in Europe, adding production assets in Austria, Germany and France as well as adding a comprehensive sales and distribution network utilizing the Danube river.
Borealis will initiate mandatory information and consultation procedures with employee representatives shortly. The transaction is also subject to certain closing conditions and regulatory approvals, with closing expected for the second half of 2022.
Borealis will continue to focus on its core activities of providing innovative and sustainable solutions in the fields of polyolefins and base chemicals and on the transformation towards a circular economy.
By Borealis, Press Release
Source: borealisgroup.com
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