Support The Moscow Times!

EuroChem Eyes K+S Swap

EuroChem, a fertilizer maker owned by Andrei Melnichenko, agreed to buy assets from BASF in France and Belgium for 700 million euros ($947 million), in a deal that may close in the first quarter of next year, the company said Tuesday.

EuroChem may seek to swap part of its holding in K+S for the German potash maker's nitrogen-fertilizer distribution arm, said a person familiar with the plan.

EuroChem is considering the purchase of the marketing business as a complement to its purchase of BASF's fertilizer-making units, the person said. Melnichenko is the largest investor in K+S, Europe's biggest potash producer, with a 9.88 percent stake.


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.