EuroChem in talks with K+S to purchase its nitrogen fertilizer distribution unit for about US$135M to complement recently acquired assets from BASF

LOS ANGELES , November 18, 2011 () – OAO EuroChem is in the early stages of talks with German potash maker K+S AG to purchase its nitrogen fertilizer distribution unit, Bloomberg reported Nov. 18, citing three sources close to the matter.

The sources said an agreement might be reached in early 2012.

Andrey Melnichenko, owner of OAO EuroChem and an investor in K+S AG with a 9.88% stake, could pay about US$135 million for the business unit with his K+S shares, Bloomberg reported, citing sources.

The addition of the distribution unit would complement nitrogen fertilizer operations EuroChem recently acquired from BASF AG’s, valued at $947 million.

The primary source of this article is Bloomberg, New York, on Nov. 18, 2011.

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