Sibur Holding, controlled by Gennady Timchenko and Leonid Mikhelson, agreed to sell fertilizer assets to Siberian Business Union, Russia's third-largest producer of coal for power stations, Sibur said Wednesday.
The deal will come up for approval at the next Sibur board meeting. The assets include Azot in the Kemerovo region and the Angarsk nitrogen fertilizer plant, the parties said in separate statements. The deal was valued at as much as $1 billion, Vedomosti reported Tuesday.
Meanwhile, Uralchem is in talks with Sibur Holding to buy 51 percent of Perm Mineral Fertilizers in a deal valued at $280 million at least. The acquisition would bring Uralchem's total holding in the company to 98 percent, chief executive Dmitry Konyayev said Wednesday.