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EuroChem Talks Progress

FRANKFURT — EuroChem, owned by K+S investor Andrei Melnichenko, is close to an agreement to buy the German potash maker's nitrogen-fertilizer distribution unit, two people with knowledge of the situation said.

An agreement may come within the next three weeks, said the people, who declined to be identified because the negotiations are private. The asset should fetch at least 100 million euros ($134 million), one of them said.

EuroChem is in the process of buying BASF's nitrogen fertilizer operations for 700 million euros. K+S, which is focusing on potash and salt, has an exclusive agreement to sell output from the BASF plants being acquired by EuroChem.

(Bloomberg)

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