BASF Seals Up $1.1B Sale To EuroChem

Law360, New York (April 2, 2012, 3:49 PM EDT) -- German chemicals giant BASF SE has closed on an €830 million ($1.1 billion) deal that transfers its fertilizer businesses in Antwerp to Russian mineral and chemical company EuroChem, according to a joint statement on Monday.

Belgium's antitrust authorities have given their stamp of approval on the transaction, which will give EuroChem six plants and about 330 employees. The deal, which was first announced in September, will in return give BASF a pretax gain of about €600 million this quarter, the companies said.

Per the agreement, the...
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