BASF Sells Fertilizer Assets To EuroChem For $947M

Law360, New York (September 27, 2011, 2:17 PM EDT) -- German chemicals giant BASF SE said Tuesday that it had agreed to sell a chunk of its fertilizer assets in Belgium and France to Russia's EuroChem in a €700 million ($947.2 million) deal.

EuroChem will absorb about 330 BASF employees in Antwerp, Belgium, where BASF has plants for calcium ammonium nitrate and ammonium nitrate as well as nitrophosphoric acid. In France, EuroChem will take over BASF's 50 percent stake in a joint fertilizer venture with GPN, part of the French chemical group Total.

The assets have...
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