Eurochem, Russia's largest producer of nitrogen fertilizers, is in the final stages of bidding for BASF assets, and the successful suitor may be announced this week, three people familiar with the sale said.
Eurochem is also considering the purchase of a K+S operation that has a contract to distribute BASF's nitrogen fertilizer, said one of the people, who declined to be identified because the sale process is private.
BASF is selling a nitrogen site in Antwerp, Belgium, and a share of a venture in France. The assets are profitable and generate annual sales of about 500 million euros ($684 million). The chemical maker put the bulk of its fertilizer operations up for sale in February.
(Bloomberg)
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